Thomson Reuters to cut 3,200 jobs

A spokesman told reporters that the move was meant to make the global media company run more ‘efficiently and effectively’ in a ‘highly competitive environment.’

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Thomson Reuters is slashing jobs as it seeks to stay profitable.

On Tuesday, the media company announced it was cutting 12 percent of its global workforce in the next two years, slashing 3,200 jobs as it seeks to trim costs. The company will also shutter roughly 30 percent of its offices.

The Financial Times reported:

The overhaul comes after the company in January sold a controlling stake in its lucrative trading and data business to Blackstone for $17bn. That business — now known as Refinitiv — made up more than half of the company’s sales.

Reuters reported:

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