Reuters cuts again
TECHNOLOGY NEWS
LONDON -- Reuters’ Business Transformation Program has not bitten deeply enough into its cost base, forcing the vendor to cut 650 more senior management jobs last week to try and save another £100 million annually. That’s on top of the 1,800 cuts already announced.
The £100 million savings to be gained in this round of redundancies adds to £235 million previously announced, planned for 2003.
A spokesperson for Reuters said the layoffs would begin "quite quickly". Details of positions affected
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