http://news.yahoo.com/thomson-reuters-trim-4-500-jobs-end-2014-133215947.html
The global financial information
group Thomson Reuters said Tuesday it would cut some 4,500 jobs in its
finance operations by the end of 2014 after reporting a drop in profits.
The
cuts, outlined in documents accompanying its quarterly results, are
deeper than the expected 2,500 jobs the company said earlier this year
would be eliminated by the end of 2013.
The company, which also
operates the Reuters news agency, is in the midst of a vast
restructuring which is notably hitting its financial information
division which provides terminals for traders and other market
professionals.
The company said its net profit for shareholders
for the third quarter slumped 39 percent from a year ago to $271 million
and revenued dipped three percent to $3.1 billion.
Chief
executive James Smith said nonetheless that the company is showing
"positive momentum," citing higher net sales in its financial division
for the first time since the second quarter of 2011.
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