Skip to main content

Thomson Reuters cuts 3,000 jobs

  • Author:
  • Updated:
    Original:

New York-based Thomson Reuters, a global news and information company that employs 6,000 in Eagan, is slashing 5 percent of its workforce or about 3,000 jobs.

The layoffs are part of the company's strategy to simplify product lines and cut costs, USA TODAY said.

The newspaper says Reuters has been struggling to retain its market share among competition from Bloomberg, Dow Jones and other startups.

Despite reduced demand, Reuters reported positive net sales for the first time since the second quarter of 2011.

The Associated Press says the cuts announced Tuesday are mainly in the company's financial and risk division. It's still unclear which locations will be affected.

Thomson Reuters' Eagan campus avoided the ax in February when the company announced it was eliminating 2,500 jobs.

Next Up

St. Cloud Times

St. Cloud Times writing staff hit by Gannett budget cuts

Mass layoffs were expected at Gannett-owned outlets across the country.

PoolScammerLawsuitAG

Pool company sued by AG for allegedly scamming homeowners out of $1M-plus

According to the lawsuit, 17 Minnesota homeowners were affected by this scam.

image

Late cancellation of music festival leaves bad blood in Two Harbors

The cancellation announcement says the promoter walked away from the gig after being harassed by some local residents.

Screen Shot 2022-08-12 at 1.58.08 PM

Fatal crash shuts down southbound I-35 north of Twin Cities

A massive backup has built in wake of the fatal crash.

Christopher Keyes

Prolific speeder charged in crash that killed woman, 75, in Plymouth

The man has seven speeding tickets dating back to 2019.

minneapolis police

Hunt for suspect who broke into apartment, fatally stabbed man

The homicide is the 57th to happen this year in the city.

minnesota state fair

How to save money at the Minnesota State Fair this year

The fair released its money-saving tips Thursday, including on parking, admission and entertainment.

Motel 6 Rochester

Threat of 'potential overdoses' among youths prompts Motel 6 raid

Rochester police says fentanyl pills were among the items seized.

boyd huppert

Boyd Huppert, Twin Cities TV stations among Murrow Award winners

The KARE 11 personality known for his 'Land of 10,000 Stories' feature was among the national winners.

Related

Thomson Reuters to cut 3,200 workers by 2020

The global mass media firm has a big office in Eagan.

Local Thomson Reuters executives oppose marriage amendment

The top Minnesota-based executives with Thomson Reuters have come out against the proposed constitutional amendment to ban same-sex marriage. The company joins two other prominent Minnesota companies, General Mills and St. Jude Medical, in opposing the amendment.