Reuters to cut 2,000 jobs

Thomson Reuters recently announced that it would cut around 2,000 jobs worldwide in order to take charge of $200 million in the last quarter of 2016 as part of restructuring the company. Reuters currently has around 48,000 employees around the globe and the company has been forced to make some cuts in its operations. However the cuts won’t be affecting editorial staff for the Reuters News. In the third quarter of this year, Reuters collected total earnings of $286 million, which equals 36 cents per share, decreased from the $293 million during the third quarter of 2015. The company also raked in revenue of $2.74 billion. According to CEO Jim Smith said in a statement that the company's subscription business are doing good and their cost controls are successful.