James Robinson of The Observer in London reports that the newly merged Thomson Reuters has confirmed in an internal e-mail that job cuts are looming.
Robinson writes, “The email, seen by MediaGuardian.co.uk and sent to senior managers by Devin Wenig, the chief executive of Thomson Reuters’ markets division, which includes its 2,600-strong global news operation, said that the precise scale of the cuts will be outlined ‘over the next several days’.
“In the email, Wenig, who was a Reuters board member and its chief operating officer prior to the merger, wrote: ‘It’s no secret that a significant amount of thought and planning has been dedicated to eliminating duplication and generating savings within our business. Over the next several days, we will communicate department by department the impact of our integration … these actions will mean an immediate reduction in our headcount.’
“Wenig’s email added: ‘The jobs that are impacted are largely the result of duplication between the two organisations.’ The email said that most job losses would be completed by the end of the year, but went on to say that further cuts could be made if management decided to close certain products down completely.”
Read more here.
