Thomson Reuters unveiled a return to a $372m (£239m) profit in the last quarter of 2012 Financial news and data provider Thomson Reuters has said that it will cut 2,500 jobs, or 4% of its workforce.The jobs will go in its Financial and Risk unit, responsible for renting out computer terminals to clients such as investment banks.
The news came as Thomson Reuters unveiled a return to a $372m (£239m) profit in the last quarter of 2012.
However, the firm said that sales would remain sluggish, likely to grow only in the low single-digits during 2013.
Speaking about the job cuts, chief executive Jim Smith said: "These are not easy decisions, but our cost structure has to meet our customers' requirements."
Shares in the firm fell more than 2% in New York.
Revenue for 2012 at Thomson Reuters rose 3% to $12.9bn. But arch-rival Bloomberg said on Wednesday that revenue for the year rose 4.5% to $7.9bn.
Bloomberg markets its own data system, which has consistently proven to be a hit with bankers and investors.
Thomson Reuters, a UK-Canadian firm headquartered in New York, has sought to hit back with the launch of its Eikon desktop software.
The number of Eikon-powered computers rose 33% in the fourth quarter from 33,900 in 2012's third quarter, the firm said.
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