TORONTO – Thomson Reuters says it’s eliminating 2,000 positions around the world as it speeds up efforts to streamline and simplify its global information services organization.
The layoffs represent close to four per cent of the company’s global workforce of about 52,000 employees, 1,200 of which are in Canada.
READ MORE: Thomson Reuters to create 400 jobs in Canada, senior roles to come to Toronto
The company, which has its principal executive office in New York City but retains a corporate headquarters in Toronto, says the reorganization will result in between US$200 million and US$250 million of accounting charges to be recorded in the fourth quarter.
WATCH: Prime Minister Justin Trudeau celebrates the creation of 400 new jobs by Thomson Reuters
The advanced notice was included with the company’s third-quarter financial report, which showed Thomson Reuters had US$2.7 billion of revenue and net income of US$286 million or 36 cent cents per diluted share for the three-month period.
READ MORE: Thomson Reuters to cut 2,500 jobs in 2013 as part of turnaround effort
The company’s statement provided little detail about its plans for an accelerated “transformation” program except that most of the charges will be taken in its core financial and risk services unit and a new enterprise, technology and operations group.
But a spokesman for Thomson Reuters confirmed by email that 2,000 positions will be cut in 39 countries and 150 locations.
Comments