The UK electronic information group Reuters is making job cuts as it restructures the business before the arrival of its new chief executive.
About 50 jobs are to go in central management but the company declined to comment on the reports that 500 jobs are under threat among the group’s 17,000 staff worldwide.
Reuters will reorganise its business operations around several key customer sectors including banking and brokerage, treasury, asset management and corporates and media.
The main beneficiary of the restructuring is Philip Green, head of Reuters Financial, who is to assume the newly created role of chief operating officer. Casualties include Rob Rowley, the chief executive of Reuterspace, the internet arm of the company, and Jean-Claude Marchand, the group marketing director.