Washington, Oct 4: Following other media houses, international news agency Reuters is also planning to axe nearly 150 editorial jobs over the next month.
The agency’s Editor-in-Chief and President Steve Adler announced the cuts that amount to about 5 percent of the total global workforce.
According to the New York Post, the cuts were the latest news to roil the financial-services giant, which had recently trashed a major website redesign and frozen the pay of most employees making more than 1, 00, 000 dollars.
A spokeswoman for the agency said that to simplify and strengthen the Reuters news operation, they are making the changes that will result in a slightly smaller but more strategically positioned and better equipped editorial staff.
The report said that the job cut would end the ‘two tier editorial system’ that seemed to pit the old-time Reuters editors and reporters against the host of high-profile outsider hires that Adler and Managing Editor Paul Ingrassia had made over the past several years as they tried to amp up Reuters’ consumer brand. (ANI)