As Thomson Reuters readies layoffs of 3,200, what’s it mean for customers? — from lawsitesblog.com by Bob Ambrogi
Excerpts:
Thomson Reuters, the dominant provider of research and information services for the legal profession, last week announced plans to reduce its workforce by 3,200 and close 30 percent of its offices by the end of 2020. What is going on and what does it mean for the company’s customers?
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The overall goal, the company said, is to create a leaner, more agile organization that will allow it to better serve its customers and shift its orientation from a content company to a software company.
“As the velocity of technology change increases and the iteration cycles become ever shorter, the new Thomson Reuters needs to run leaner, be faster and more effective,” Neil T. Masterson, co-COO, told the investors. TR plans to accomplish that through three “levers” which will result in a headcount reduction of 12 percent by 2020…
