Reuters Cuts 500 as Customer-Focused Structure Kicks In
EARNINGS REPORT
LONDON--Reuters' new customer-led divisions are providing additional opportunities to cut costs, says CEO Tom Glocer. He says there will be a further 500 layoffs on top of the 1,100 already announced (IMD, June 11).
Of the 1,600 total staff, 600 persons have already been laid off, he says. Most of the remaining thousand will be notified by the end of November, says Philip Green, Reuters' COO and the virtual axe-man in the search for cost efficiencies. He says the rest will be notified early next
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