3000 jobs to go at Reuters
News wire association Thomson Reuters is to lay off 3000 of its 60,000 strong workforce, the group has announced.
Jim Smith of Thomson Reuters
Chief executive Jim Smith said the group had posted a 38 per cent drop in revenues.
The company has already laid off 2500 workers this year.
140 jobs at the groups global news division are also to be lost.
"These are tough decisions that we do not take lightly. But I thoroughly believe these steps are necessary to position our organization to thrive for years to come," Smith said.
"We need to better align resources behind our most promising growth opportunities.
"We need to attack internal bureaucracy once and for all."
Staff were informed via a video message.