Telerate Trims 20 Jobs, Bans New Hires In Expense-Cut Campaign
VENDOR STRATEGIES
Ten days ago Dow Jones Telerate discontinued the jobs of some 20 of its employees and imposed a freeze on future hires. The steps were taken following a budgetary review (IMD, Sept. 13) in which the vendor's department heads were challenged to cut their expenses by up to 10 percent by year-end.
At the same time, staff have been urged to defer expenditures until January, in order to improve the vendor's fourth-quarter earnings performance, sources say. A Dow Jones spokesperson declines to comment
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