Reuters Mulls Major Strategy Shift
VENDOR UPDATE
LONDON--Reuters officials are likely to detail a major shift in their relationships with Instinet and Tibco Software, and cost-cutting measures that include layoffs when they release 2002 results on Tuesday, Feb. 18, according to industry sources and observers.
Sanford C. Bernstein & Co. analysts expect the revenue results and outlook to be bleak and that cost-cutting is on the way.
In a Feb. 4 report, the Bernstein analysts say "declining revenues" for 2003 should "collapse profits by £224
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