Reuters, the international business information provider, is to lay off an additional 500 staff across its business units in an attempt to cut costs by a further £30m ($43.4m).
Tom Glocer, chief executive of Reuters, said that he would be making the cuts as he announced the company's third-quarter trading statement Tuesday. He said: "The cuts are being made across the board. We've told our staff that there is no 'get out of jail free' card, and that we will be making cuts on a proportionate basis where we can make the most savings with the least impact on the business." Reuters lowered its second-half revenue growth forecast from 3% to between 1% and 2%, sending its shares tumbling by 7%.
