Reuters to axe 3,000 jobs after loss

International news and information group Reuters is to cut 3,000 jobs over the next three years after announcing its first annual loss as a public company today.

The group reported bottom-line losses of £493m (€735m) for the year to December 31 – compared with profits of £158m (€235.5m) a year earlier.

Today’s job losses will bring the head count at Reuters core business down from its present 16,000 worldwide to around 13,000 at the end of 2005.