Arif Durrani of MediaWeek is reporting that Thomson Reuters plans to cut thousands of jobs in its markets division, but none of those cuts will come from the ranks of the 2,900 journalists who work for the company’s Reuters operation.
Durrani writes, “A Thomson Reuters spokesman said the company did not comment on ‘rumour and speculation’ and went on to dismiss the specific claim that up to 12%, some 3,000+ staff, of the Markets division was under threat.
“However, one internal source told Media Week: ‘The job losses are coming and will be announced in the first quarter.’
“Another confirmed they had been verbally warned about the job cuts in person earlier today, but said the company had been careful not to circulate anything in writing yet.
“The review is being led by Devin Wenig, chief executive of Thomson Reuters Markets.”
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