British information giant Reuters is preparing to shed between 1,000 and 1,200 jobs and will make a statement tomorrow when its half-yearly results are announced, according to today's Financial Times.
The group's new American director general Tom Glocer, who takes over the job this week, plans to make annual savings of £150 million by 2003.
Glocer told the French newspaper Les Echos at the beginning of June that 'departures are inevitable' as a result of new technologies. But he said job losses could be offset by redeployments and retraining.
Reuters has announced an in-depth management revamp with the departure of marketing director Jean-Claude Marchand and the head of its Internet branch Reuterspace Rob Rowley. Reuters reported a turnover of $3.59 billion last year.
There was no comment from the company today on the future of its 30 workers in Dublin.
