Information group warns of job cuts to save £150m

News and data group Reuters has warned that more jobs go could after unveiling plans to save another £150m.

Reuters, whose staff numbers have fallen by about 3,000 to 15,000 since 2001, said it may cut up to 500 posts in the next three to five years.

The company plans to reduce the number of data processing centres it has around the world and to rationalise its product development operations. It has two datacentres in the UK – in London and Nottingham – although it is not believed the cuts will affect them.

The company expects its ‘Fast Forward’ restructuring programme to be completed at the end of this year and to deliver annual cost savings of £440m in 2006.

A spokesman described the potential job cuts as being in the “low hundreds” and below 500.

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