Thomson Reuters to cut 3,000 jobs, as part of cost cutting plan

  • Article by: Associated Press
  • Updated: October 29, 2013 - 7:19 PM

NEW YORK — Thomson Reuters is cutting about 3,000 jobs as part of its plan to cut costs.

  • 18
  • Comments

  • Results per page:
kjjkjjOct. 29, 1311:09 AM

Good luck to all locally employed by TR, hope you come through unscathed!

55
0
moretaxesnowOct. 29, 1311:35 AM

TR is slowly circling the bowl. I have 2 friends that are trying to bail before it really gets bad. A 39% drop in income guarantees more layoffs are coming.

36
6
ruphinaOct. 29, 1312:49 PM

Good riddance! Everything they put out other than financial is hopelessly slanted to the left. Bill G.

7
61
George72Oct. 29, 1312:53 PM

They'll just replace some with cheaper contractors and they won't be in Eagan. It's how that place rolls.

21
8
joe_mnOct. 29, 13 3:04 PM

Wow. Anytime a company fires thousands of workers, it has to indicate major issues. Ah, we're just refocusing?

13
1
stingballOct. 29, 13 3:29 PM

I used to work there. They have a huge number of very highly compensated mid to upper level managers - - much more than they really need. These managers are highly paid with huge bonus potential while the lower level worker-bee employees are lucky to get a 1% annual bonus, which they call "employee profit participation". The company could easily get rid of 1/4 to 1/3 of these management positions and improve profitability dramatically, in my opinion. I'm surprised it hasn't already happened, given the company's performance in recent years.

22
3
web4freeOct. 29, 13 3:34 PM

Since the Eagan branch is the company formerly known as West Publishing and these layoffs are all from the unrelated financial services division (Merrill Lynch fragment?), I doubt that this would have any immediate effect here. Thompson-Reuters is a company that grew into a monster by acquisition. They are an eclectic assortment of companies, now labeled as "divisions".

12
0
pragmatictafOct. 29, 13 3:55 PM

""Good riddance! Everything they put out other than financial is hopelessly slanted to the left. Bill G.""=========Let's see, their services are financial, governance, risk and compliance, intellectual property, legal, news services, pharma and life sciences. scholarly $ scientific research and tax and accounting. I get it, there are scary words like 'life sciences', 'scholarly' and 'scientific research', sure sounds like a lefty conspiracy to me. Sheeesh.

20
7
sunburstfarmOct. 29, 13 3:56 PM

Worst customer service company ever.

5
1
edinawaterOct. 29, 13 6:22 PM

Take another look, moretaxesnow. Thompson Reuters had a 39% drop in net income. Which is to say their profits where $271 million instead of $441 million. Their revenue fell 2.8% percent from $3.18 billion to $3.09 billion. Those numbers could be due to random market fluctuations.

3
0

Comment on this story   |  

ADVERTISEMENT

Connect with twitterConnect with facebookConnect with Google+Connect with PinterestConnect with PinterestConnect with RssfeedConnect with email newsletters

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT