Thomson Reuters cuts 184 jobs in Eagan

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After announcing plans last year to cut 5 percent of its workforce, Thomson Reuters issued layoff notices to 184 full-time employees at its Eagan campus this week, the Star Tribune reports.

The New York-based global news and information company said last October that slashing 3,000 jobs worldwide is part of a strategy to simplify product lines and cut costs. Reuters has seen reduced demand and is struggling to retain market share among competition from Bloomberg, Dow Jones and other startups.

The Eagan campus, which handles the company's legal publishing business, employs about 7,000 people. KSTP reports the job cuts in Eagan were the result of shutting down an operating unit.

In a letter sent to Minnesota's Department of Employment and Economic Development, Reuters said the first and only round of layoffs will occur "on or about" Jan. 6, according to the Pioneer Press.

However, the Star Tribune says the employees will actually be out of a job in March.

A company spokesman noted that the bulk of the total layoffs are in the finance and risk division based in London.

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