Thomson Reuters is cutting 2,000 jobs

Getty Images/Spencer Platt

Thomson Reuters Corp. said on Tuesday that it would eliminate about 2,000 jobs worldwide and take a fourth-quarter charge of $200 million to $250 million to streamline its business.

The restructuring across 39 countries and 150 locations would mainly affect the Financial & Risk business and the Enterprise, Technology, & Operations Group, the news and information company said. It employs about 48,000 people globally, a spokesman said.

"We are taking these actions now because we see a real opportunity to break down internal silos, position ourselves closer to customers, and become more agile," CEO Jim Smith said.

Thomson Reuters is the parent of Reuters News. There will be no decline in headcount in the Reuters newsroom, according to a memo to employees.

The company earlier reported slightly lower third-quarter net earnings. Net income was $286 million, or $0.36 a share, compared with $293 million a year earlier.

Excluding special items, earnings were $0.54 a share. Analysts on average were expecting $0.47, according to Thomson Reuters I/B/E/S/.

Revenue was up 1% at $2.74 billion before currency effects and was flat when they were factored in. The company reiterated its forecast of 2% to 3% revenue growth for the year.

In the Financial & Risk segment, which provides news and analytics to financial services companies, sales outpaced cancellations for the 10th straight quarter.

Overall, unit revenue was flat at $1.52 billion.

Thomson Reuters competes for financial customers with Bloomberg LP as well as News Corp.'s Dow Jones unit.

Because of the charge, the company lowered its 2016 forecast for underlying operating profit margin to 16% to 17%, from 18.4% to 19.4%.

(Reporting by Jessica Toonkel; Writing by Nick Zieminski; Editing by Lisa Von Ahn)

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