New jobs threat at cost-cutting Reuters
News and financial data group Reuters today said more jobs could go as it unveiled plans to save £150m (€217.3m).
Reuters, whose staff numbers have fallen by about 3,000 to 15,000 since 2001, said it may cut up to 500 posts in the next three to five years.
The company plans to reduce the number of data processing centres it has around the world and to rationalise its product development operations.
It has two data centres in the UK, in London and Nottingham, although it is not believed the cuts will affect them.
The company expects its Fast Forward restructuring programme to complete at the end of this year and to deliver annual cost savings of £440m (€637.3m) in 2006.
The latest cuts are expected to generate an extra £150m (€217.3m) of costs savings by 2010, taking the total since 2001 to more than £1bn (€1.4bn).
A spokesman described the potential job cuts as being in the “low hundreds” and below 500.
“A small number of heads may go as a result of some data centre closures in the medium term,” he said.
