Financial information provider Reuters is to cut another 3,000 jobs over the next three years after reporting a record loss of £394m last year.
Shares in the company have fallen by over 70% in the past year, and it has already cut around 2,500 staff over the past two years.
Reuters employs 22 people in Dublin, but a spokesman said he was not expecting any major changes in the Irish workforce as a result of today's announcement. He said the previous cuts had had a very small effect on the Dublin operations.
Reuters said that recurring revenues, which account for most of its sales, would fall by around 9% in the first quarter of this year, and by 'somewhat' more in the second quarter.
The company has been hit by the slump in stock markets and job losses in the investment banking industry, which accounts for around a third of revenues.
Reuters also announced that it was buying Multex, which provides earnings estimates on over 16,000 companies worldwide, for around $195m in cash.
