Reuters Considering More Job Cuts
Jan. 13, 2003
LONDON (AP) _ Reuters Group PLC is considering cutting more jobs as part of its efforts to streamline operations and reduce costs, the news and financial information provider said Monday.
``We haven't made any further announcements regarding jobs cuts, but it isn't something we've ruled out,'' spokeswoman Yvonne Diaz said. ``We'll be updating the market at our next financial report on Feb. 18.''
British newspapers reported Monday that Reuters would shed a further 1,000 jobs when it announced financial results next month. The company has cut almost 2,500 jobs, 12 percent of its work force since Chief Executive Tom Glocer took over in July 2001.
Reuters has been hit hard by the global economic slump and layoffs among the financial analysts, bankers and traders who are its key customers. The layoffs have come mostly in non-editorial departments.