Thomson Reuters Inc. plans to review of the company’s business units, in the latest sign the data provider is looking for ways to respond to weak demand from its financial services clients, report William Launder and Keach Hagey of The Wall Street Journal.
Launder and Hagey write, “More details are expected Wednesday, when Stephen Adler, president and editor in chief at Reuters, will address the company’s news staff in a conference call, two people familiar with the matter said. The call has been billed as an ‘editorial update’ where staff can ask questions.
“Thomson Reuters’s financial and risk division has suffered in recent years as big bank clients reduced head count and amid struggles in various European economies. The company’s Eikon financial desktop platform, launched in the wake of the financial crisis, has only recently shown signs of growth. Thomson Reuters had a total of around 61,000 Eikon desktops installed as of the end of the second quarter, up approximately 30% from a year earlier.
“Elsewhere within the company, Thomson Reuters told staff last week that it had abandoned a plan launched more than two years ago to improve its consumer-oriented news website, a project known as Reuters Next. The company cited missed deadlines and budget targets as reasons the project was canceled.”
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