Meanwhile, my profile views are skyrocketing!!!
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"Thomson Reuters to cut 1,500 jobs in '08; No details on plans for Boston operations"
NEW YORK - Thomson Reuters Corp., formed by Thomson Corp.'s $15.9 billion purchase of Reuters Group PLC, will eliminate about 1,500 jobs globally this year to help reach cost savings goals, a person with knowledge of the plans said.
The reductions include 140 news positions, as many as 650 jobs in content, technology, and operations, and at least 45 positions in sales and service, according to three e-mails sent by Thomson Reuters managers to staff. Those memos don't cover cuts in all regions and departments, according to the person, who didn't want to be identified because the plans aren't public.
Chief executive Thomas Glocer is integrating legal databases, bond-trading networks, news, and advisory services. The company, which has about 50,000 employees, said May 1 that annualized savings will total $1 billion by the end of 2010 and $1.2 billion a year later.
"There are obvious areas such as databases and news where job cuts are unavoidable and necessary because of overlaps," said Gareth Thomas, an analyst at Collins Stewart PLC in London. "But investors also want to know what the impact on profitability will be, or how much of the savings will go through to the bottom line and how much will be reinvested."
More than half the news jobs to be cut are in Europe, the New York-based company told its journalists yesterday.
A spokesman for Thomson Reuters said that he could not confirm the report of planned layoffs, and therefore could not say how such layoffs might affect workers in Boston. As of last year Thomson employed about 900 workers in Boston in a complex on the South Boston Waterfront. There the company provides investor relations services for major corporations and develops financial management software. The Reuters news service runs a small Boston bureau. Reuters employs an undisclosed number of workers in Boston who produce specialized data services for financial management professionals."
No layoffs here, readers.
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Also see:
Bloggers 476; MainStream Media 0 (F)
The Sucking Sound at the Washington Post
The Boston Globe Joins the New York Times and Washington Post in the Crapper
The Sinking New York Times Cuts the Boston Globe Loose
It's Official: Boston Globe Now Tabloid Trash
AmeriKa's Media and Internet Truth-Tellers
AmeriKan MSM Can't Compete With Blogs
"The media which has printed these lies and presented the horrors of the day according to the angle desired by those who operate it have become their own worst enemy. They are daily providing the evidence that they lie. Truth tellers on the internet are turning over every rock they tried to bury the truth beneath."
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