Global information company Thomson Reuters plans to cut 140 editorial jobs by the end of the year as its Reuters news service absorbs Thomson Financial News. More than half the cuts will be in Europe, while the rest will be scattered, editor-in-chief David Schlesinger wrote in a memo to employees on Monday.
Thomson Reuters launched on the London stock market on Thursday, creating the world’s biggest provider of financial data to trading floors, overtaking United States rival Bloomberg. Thomson Reuters was formed after Canada’s Thomson Corporation bought British-based media and information group Reuters for £8,7-billion in a deal completed on Thursday.
Shareholders of British media group Reuters voted in favour of a takeover by Canadian peer Thomson Corporation, the London-based company said in a statement on Wednesday. "Reuters shareholders vote in favour of acquisition by the Thomson Corporation," the company said in a brief statement to the London Stock Exchange.