Thomson Reuters to cut 2,000 jobs worldwide as it speeds up streamlining
TORONTO — Thomson Reuters (TSX:TRI) says it’s eliminating 2,000 positions around the world as it speeds up efforts to streamline and simplify its global information services organization.
The layoffs represent close to four per cent of the company’s global workforce of about 52,000 employees, 1,200 of which are in Canada.
The company, which has its principal executive office in New York City but retains a corporate headquarters in Toronto, says the reorganization will result in between US$200 million and US$250 million of accounting charges to be recorded in the fourth quarter.
The advanced notice was included with the company’s third-quarter financial report, which showed Thomson Reuters had US$2.7 billion of revenue and net income of US$286 million or 36 cent cents per diluted share for the three-month period.