thomas reuters cuts 2000 jobs, spends $200m streamlining november 01, 2016 the thomson reuters logo is seen on the company building in times square, new york october 29, 2013. reuters/carlo allegri/file photo 




thomas reuters corp has announced they will spend $200-250 million in the fourth quarter to streamline operations, including cutting 2000 jobs, across 150 locations, in 39 countries, approximately 4 percent of their workforce. spokesman: thomas reuters corp employs about 48,000 people globally. jim smith, chief executive: the changes come as part of its multi-year effort to streamline its businesses. smith: <u+201c>it's about simplification and taking out bureaucracy and taking out layers all of which have added complexity and slowed us down.<u+201d> "these actions are not driven by any reaction to market conditions or in any way coming on the back of underperformance." thomson reuters is the parent of reuters news. memo posted tuesday: there will be no decline in headcount in the reuters newsroom. thomas reuters corp reported net income for q3 was $286 million or 36 cents per share. net income q3 2015: $293 million or 36 cents per share. thomson reuters i/b/e/s: excluding special items, earnings were 54 cents per share. analysts on average expected 47 cents. revenue rose 1 percent to $2.74 billion before currency effects and was flat when they were factored in. thomas reuters corp reiterated its forecast of 2 percent to 3 percent revenue growth for the year. financial & risk segment: sales outpaced cancellations for the 10th straight quarter, overall unit revenue was flat at $1.52 billion. due to streamline spending, reuters has lowered its 2016 forecast for underlying operating profit margin to between 16 percent to 17 percent, from 18.4 to 19.4 percent. 




(new york city) thomson reuters corp said on tuesday it would cut about 2,000 jobs worldwide, about 4 percent of its workforce, and take a fourth-quarter charge of $200 million to $250 million to streamline its business. 




the restructuring across 39 countries and 150 locations would mainly affect the financial & risk business and the enterprise, technology & operations group, the news and information company said. the company employs about 48,000 people globally, a spokesman said. 




the changes come as part of its multi-year effort to streamline its businesses, said jim smith, chief executive, in an interview tuesday. 




"it's about simplification and taking out bureaucracy and taking out layers all of which have added complexity and slowed us down," he said. "these actions are not driven by any reaction to market conditions or in any way coming on the back of underperformance." 




thomson reuters is the parent of reuters news, which competes for financial customers with bloomberg lp as well as news corp's dow jones unit. there will be no decline in headcount in the reuters newsroom, according to a memo to employees on tuesday.
thomas reuters cuts 2000 jobs, spends $200m streamlining
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