Here is the memo that Reuters editor in chief Steve Adler sent to the newsroom on Tuesday:
Colleagues,
As you all saw, today Thomson Reuters announced Q3 earnings and news of the reduction of about 2,000 jobs. As Jim noted, there will be no decline in headcount in the Reuters newsroom. Reuters has performed well both editorially and commercially in 2016. At the same time, we are in a fast-changing market environment and we routinely look at the best ways to serve our customers. As we prepare for 2017 we are – as always – looking at ways to improve our newsroom operation and the Reuters business by shifting some resources toward areas of higher growth and higher user demand.
Corporate coverage for buy-side, or investor, customers is one area of planned growth, and multimedia capabilities for digital media customers is another. As part of this shift, we will be making a small number of cuts, offset by a roughly equal number of added positions in growth areas. The overall impact will be neutral on newsroom staff size. On the business side, we will be making changes in some areas to best position us for growth and to deliver for our customers. More information will be provided in the coming weeks.
This is a very busy time for all of us at Reuters, from next week’s U.S. Election to other world news to our commercial endeavors. We appreciate your focus, as always.
Best regards,
