LONDON (AP) Financial news and information provider Reuters Group PLC plans
to outsource as many as 20 editorial jobs to India from more expensive
newsgathering locations around the world, a company spokeswoman said Monday.
Reuters will hire up to 40 journalists to staff a new newsroom in the Indian
city of Bangalore to take over these editorial duties and to expand output
for the company’s news service. They will focus primarily on providing
greater information about small and medium-sized companies that are publicly
traded in the United States, London-based spokeswoman Susan Allsopp said.
The new employees will compile tables of financial data to accompany longer
stories written by Reuters journalists elsewhere, and also provide
information from news releases and filings to national regulatory
authorities such as the U.S. Securities & Exchange Commission.
Reuters hopes to find new positions for the staffers whose jobs will be
outsourced to India.
“There will be some impact, but we’re trying to minimize that,” Allsopp
The company hopes to complete most of the job transfers by the middle of
next year. Allsopp could not immediately specify how much money Reuters
expected to save by outsourcing the editorial jobs. As many as 20 employees
could be affected, she said.
Reuters already employs 300 people in Bangalore at a separate center for the
collation of financial market data for customers using Reuters information