Thomson Reuters Corp. announced that it will cut its workforce by 12%, eliminating 3200 jobs by 2020 as part of a plan to streamline business and reduce costs. The company declined to say where the cuts were being made, but said they will “simplify the company in every way that we can,” including reducing the number of offices and locations. They will continue to focus on the legal, tax, and news businesses, and plan to “cross-sell more products to existing customers,” while cutting the number of products sold. The company claims this will make it easier for customers to do business with them. I guess we’ll find out, won’t we?
Read more about it here.