One of the world’s least-lovable media organizations is making some serious cuts:
Thomson Reuters (NASDAQ: TRIN) will “eliminate” around 140 journalist posts around the world by year’s end, we have confirmed. Around half the posts will go from Europe, where overlap is greatest; the remainder will be in the rest of the world, and a consultation process is just beginning.
Reuters News EIC David Schlesinger’s email to staff (via Guardian) says the combined news operation will end up with 2,500 staff, more than Reuters’ contribution of 2,380. The company targeted synergies of $750 million over the next three years but also expects to create 50 new newsroom jobs on a variety of strategic projects over the next few months, apparently including up to 20 web video staff.