Reuters To Halt Video-Switch Manufacturing At Rich's Chicago Facility, Cut 100 Staff
THIS WEEK'S LEAD STORIES
Reuters Holdings PLC will stop operations at the Franklin Park, Ill., systems assembly group (SAG) of its Rich Inc. subsidiary by year end. The group builds Rich's proprietary CIS video-switch, which will be discontinued.
Reuters says the decision to close the Franklin Park SAG -- with the loss of as many as 100 jobs, according to sources -- reflects the evolution of the market toward less-proprietary hardware and trading-room systems capable of distributing digital data. But it is also in line
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