Reuters Details ‘Fast Forward’ Plan
VENDOR UPDATE
NEW YORK--In the wake of Reuters’ record losses for 2002 detailed last week, the news, market data and trading technology services vendor has put in place its "Fast Forward" plan that calls for a streamlined product and data delivery network, more use of third-party systems integrators, the acquisition of Multex, and layoffs of approximately 3,000 employees.
Suffering its largest net loss in its 151-year history--£394 million--Reuters Group revenue for 2002 slid 8 percent to £3,575 million
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