Thomson Reuters to cut 140 editorial jobs
By Leah McBride Mensching, Tuesday 20 May 2008 at 23:29 :: Labor & Employment :: #1686 :: rss
As Thomson Financial News merges with Reuters news service, the global Thomson Reuters Corp. plans to cut 140 journalist positions by the end of the year, Reuters UK reported Monday.
More than 50 percent of the job cuts will be in Europe, David Schlesinger, editor-in-chief, wrote to employees in a memo Monday. However, Reuters is also planning to add about 50 new jobs in growing areas.
Schleisinger stated in the memo that Thomson Reuters has done its best to cancel open posts that don't fit within the new organisation, and also to move people into new roles instead of cutting their jobs when possible.
“When two similar and once competing organisations come together, there is natural overlap and duplication in coverage,” Schlesinger wrote, according to Reuters UK.
The UK National Union of Journalists said it will negotiate with Thomson Reuters, but if the two fail to see eye to eye, the union has not ruled out a strike, Reuters UK reported.
Thomson Corp. bought Reuters Group Plc for more than US$16 billion in cash and stock on April 17.
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1. Wednesday 21 May 2008 at 04:45, by Sugiarto Setiabudi
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