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Thomson Reuters Fires 2,500

Thomson Reuters Fires 2,500

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Rumors of the death of the old media have not been exaggerated. Thomson Reuters announced today that they’d be cutting 2,500 jobs, a full 4 percent of its entire workforce. CEO Jim Smith explained, “These are not easy decisions, but our cost structure has to meet our customer’s requirements.”

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The company profited heavily in the fourth quarter – they must be one of the companies President Obama ripped as corporate profiteers at the expense of employees – but they’re laying people off just the same. The company’s stock slid on the firing announcements.


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