Media News - Tuesday, May 20, 2008

Thomson Reuters to cut 140 journalist jobs

Global information company Thomson Reuters Corp plans to cut 140 editorial jobs by the end of the year as its Reuters news service absorbs Thomson Financial News. More than half the cuts will be in Europe, while the rest will be scattered, Editor-in-Chief David Schlesinger wrote in a memo to employees on Monday. Reuters also plans to add about 50 new jobs in growth areas, Schlesinger said, adding that the news organization should have about 2,500 employees by year's end. Britain's National Union of Journalists said it had not ruled out a strike but would negotiate with the company first. Thomson Reuters had said it would shed jobs after Thomson Corp bought Reuters Group Plc for more than USD 16bn in cash and stock on April 17. Thomson Reuters, which employs 50,000 worldwide, could lose about 1,500 jobs in total, according to a BBC report. Thomson Reuters is cutting as many as 650 jobs in its content, technology and operations division, according to a memo sent to employees by the head of that group, Peter Moss. (Reuters)

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