Thomson Reuters to Cut 2,500 Jobs

Financial news provider Thomson Reuters will cut 2,500 jobs this year in an effort to reduce costs amid a turnaround effort; it expects to spend about $100 million in severance costs. 

CEO Jim Smith said during a conference call discussing the company's quarterly and year-end earnings results that the job losses would occur in its financial and risk division, which accounted for 54% of Thomson Reuters' total revenues in 2012. "These are not easy decisions, but our cost structure has to meet our customers' requirements," Smith said.

The information services provider employs approximately 60,000 people in more than 100 countries, making the cuts equal to about 4% of the work force. 


TRI Revenue Quarterly YoY Growth Chart

TRI Revenue Quarterly YoY Growth data by YCharts.

link

The article Thomson Reuters to Cut 2,500 Jobs originally appeared on Fool.com.

The Motley Fool has a disclosure policy. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.


Increase your money and finance knowledge from home

Professional Vs Do it Yourself Investing

Should you get advice or DYI?

View Course »

Asset Allocation

Learn the most important step in structuring an investment portfolio.

View Course »

Add a Comment

*0 / 3000 Character Maximum