Reuters Chief Executive Thomson Tuesday warned employees of “tough decisions” ahead for the media and financial information group, which has already announced 2,500 layoffs since the beginning of the year.
CEO James Smith announced the appointment of a new “chief transformation officer,” Neil Masterson, to help direct the shifts planned for the British-Canadian company.
“I know we’ll have to take many tough decisions to redirect our efforts toward our future potential,” Smith wrote in a letter to the company’s 60,000 salaried employees, extracts of which were published on the web site The Baron.
The web site includes former Reuters employees and focuses on company news. “We need to simplify our business,” Smith said in the letter. “We need to respond to opportunities more quickly. We need to better align resources behind our most promising growth opportunities,” he said.
