Quote:
"2012 was a watershed year for us," said James C. Smith, chief executive officer of Thomson Reuters.
"First and foremost, we achieved our targets for the full year for revenues, profit and free cash flow. Given the headwinds we faced in 2012, that performance reaffirmed just how strong this business really is."
"2012 will best be known as the year we turned the tide in our Financial & Risk business. I said last year that our journey would entail a multi-quarter turnaround; we are halfway through that process. We laid the groundwork for future success with solid improvements in product quality, customer service and execution capabilities."
"We enter 2013 with more confidence and a much stronger foundation."
[
Thomson Reuters]
And speaking of execution capabilities:
Quote:
NEW YORK — News and financial information company Thomson Reuters on Wednesday said it is cutting 2,500 jobs, or about 4 percent of its workforce, this year as it tries to reduce costs and turn around its largest division.
CEO Jim Smith told analysts on a conference call Wednesday that the company is eliminating the positions from its "Financial and Risk" division, which rents out trading terminals to the financial industry. It accounts for just over half of Thomson Reuters' revenue.
"These are not easy decisions, but our cost structure has to meet our customer's requirements," Smith said.
[
AP via WSJ]
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