Reuters to cut 3,000 jobs

Media
company Reuters is to cut 3,000 jobs after announcing a net loss of £394m.

The
company has already shed 3,000 staff over the past two years – more than 10 per
cent of its core workforce.

The
3,000 new job losses are to be in place by 2006.

Reuters
said most job reductions will come from back-office operations and reducing new
product development, but there may also be a small number of editorial
redundancies.

The
financial information provider has been hit hard by falling stock markets.

By Quentin Reade

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