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Reuters off-shores itself out of existence

http://news.bbc.co.uk/2/hi/business/3124569.stm

The BBC seems to be saying that Reuters is off-shoring its "core" operations:

"The company makes most of its money from the [financial data] screens, rather than from selling news to papers and broadcasters, so the content division is at the core of the company.

Many companies are shifting call centres and other ancillary divisions to India to save money, but a shift of core operations is more rare. "

So stop and think about this.  Reuters is moving its ENTIRE CORE business to India.  How many current employees do you think will relocate there?  By hiring and training an entirely new set of employees, you're basically liquidating the current company and starting over as a startup (holding over a few things like existing contracts and IP, which isn't worth much without the employees who have the institutional knowledge of the business).

Later the article says that Bloomberg and Thomson Financial are eating Reuters lunch.  I wonder why.

Jim Rankin
Tuesday, August 05, 2003

I used to work for them on Long Island New York. It WAS a great place to work! Local management and the developers were excellent there! Too bad upper upper management over in the UK ruined everything.

Now they are slashing everyone...

Sad Sad...

GenX'er
Tuesday, August 05, 2003

So GenXer, puzzle me this:
Is it Rooters or Royters?

Israel Orange
Tuesday, August 05, 2003

Royters

LOL

Rooters is the plumbing company...

GenXer
Tuesday, August 05, 2003

It's Roy-ters.

Zahid
Tuesday, August 05, 2003

IsraelOrange:

A quick call to their toll-free number confirms that (at least on their recorded message for the US), it's "ROY - ters".

Joe
http://www.joegrossberg.com

Joe Grossberg
Tuesday, August 05, 2003

A quick call to their toll-free number confirms that (at least on their recorded message for the US), it's "ROY - ters".


Slow day at work, eh?

Mickey Petersen
Tuesday, August 05, 2003

Thanks everyone! I can now sleep like a baby. ;-D

Israel Orange
Tuesday, August 05, 2003

Mickey:

It took me longer to type this message than it did to STFW for Reuters, click three times and then dial 12 digits.

Besides, you don't actually think I could concentrate on other problems before solving the Reuters pronunciation one, did you? ;)

Joe
http://www.joegrossberg.com

Joe Grossberg
Tuesday, August 05, 2003

Glad to see you have your priorities in order Joe. Keep up the good work. :)

Marc
Wednesday, August 06, 2003

Joe,

I'm glad we have heroes like you on this board ready to solve pronounciation problems.

Mickey Petersen
Wednesday, August 06, 2003

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