Wire service Reuters has cut its travel and expense budget by 30 percent in an attempt to cut costs, according to a story in the Guardian.
Ben Dowell wrote, “The chief executive, Tom Glocer, has imposed 30% cuts to travel and entertainment budgets on the global news organisation’s 15,300 staff.
“The news was delivered to staff in an intranet posting in which Mr Glocer said that ‘tough measures’ were needed to achieve ‘greatness’. He also said that the amount of travel by Reuters staff denied opportunities to local journalists in foreign countries.
“‘We hold far more meetings and spend way more money on travel and entertainment than comparable companies,’ he wrote, announcing the budget cuts and a ‘major reduction in the number of international assignments over the next two years’.
“Mr Glocer said that the travel restrictions presented a ‘big savings opportunity’ and that the company was also ‘looking to invest in new video-conferencing technology to make it easier to skip the trip’.”
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