Stephen Adler, the president and editor in chief of Reuters, announced during a staff conference call this morning that the news service will be cutting around a five percent across the board in editorial.
The cuts will be broadly distributed across the globe and across all levels of the news agency, including managers, Mr. Adler clarified during a question and answer period (during which a disproportionate number of the questions seemed to come from the Washington D.C. newsroom).
Notifications will be done mostly this month, although some may take longer because of different union standards around the world.
“It’s starting quickly and will move as fast as it can,” Mr. Adler said.
“People should never make light of it and it’s really significant in people’s lives,” he said, noting that the goal is to get on the other side of the staff cuts.
Mr. Adler also said that there will be an investment in expanding into emerging markets (he mentioned Africa, South East Asia, Latin America) and that despite cancelling Reuters Next, the consumer facing site that had been in the works for more than two years, there is still a commitment to the existing website.
Mr. Adler called improving the website an act of priority” and said it is “by no means on back burner.”
Since the company announced that Reuters Next in mid-September, staff morale has been low and there has been a steady stream of departures.
Although today’s announcement is not welcome news, a source tells us that staffers are relieved finally to have some answers.