Posted on 11/02/2016 3:45:03 PM PDT by Lorianne
Share
Related Stories
■ Prime Minister Justin Trudeau on hand as Thomson Reuters announces 400 new jobs in Toronto
Thomson Reuters Corp said on Tuesday it would cut about 2,000 jobs worldwide, about four per cent of its workforce, and take a fourth-quarter charge of $200 million to $250 million to streamline its business.
The restructuring across 39 countries and 150 locations would mainly affect the company's financial and risk business and its enterprise, technology and operations group, the news and information company said.
The company employs about 48,000 people globally, a spokesman said.
Thomson Reuters shares gained about four per cent in early trading in both New York and Toronto.
The changes come as part of its multi-year effort to streamline its businesses, said Jim Smith, chief executive, in an interview Tuesday. "It's about simplification and taking out bureaucracy and taking out layers all of which have added complexity and slowed us down," he said. "These actions are not driven by any reaction to market conditions or in any way coming on the back of underperformance."
Thomson Reuters is the parent of Reuters News, which competes for financial customers with Bloomberg LP as well as News Corp's Dow Jones unit. There will be no decline in headcount in the Reuters newsroom, according to a memo to employees on Tuesday.
(Excerpt) Read more at cbc.ca ...
o n ly . t h e . b e g i n n i n g
BTW, why do they need all those employees.
One guy sits in a back room and fabricates everything.
Sure seems that way to me.
GOOD! Friggen propagandists.
Less of a market for lies and propaganda these days...
fewer colluding presstitutes employed - so sad, too bad.
And we all said...HALLELUJAH!!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.