Electronic information provider Thomson Reuters Corp [TRI-T] is cutting 835 jobs as it moves to integrate its operations following the purchase of Reuters Group PLC by Thomson Corp. last month.
A company official, who spoke on the condition of anonymity, said the merged entity will likely cut a total of around 1,500 jobs this year.
The $17-billion (U.S.) deal to combine the two companies has left Thomson Reuters with a total of 50,000 staff in 93 countries. The new entity has pledged to cut a total of $500-million in costs by combining operations and eliminating overlap between the Thomson and Reuters operations.
The cuts announced internally so far include 140 editorial jobs in the combined newsrooms of Reuters and Thomson Financial.
About half the editorial job cuts will be in Europe, the company official said, while the rest have not been identified yet.
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