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Abhrajit Gangopadhyay

Bangalore , Aug. 5

INFORMATION vending firm Reuters plans to set up a new content production facility in India in its bid to cut costs, Reuters officials told Business Line from London.

"The new content capability facility will handle data in raw state and structure it for use on our terminals," Ms Yasmeen Khan, Public Relations Manager for Reuters Plc, said. "There is no definite timeline for such a move at the moment", she said, adding that choice of locations could either be Bangalore or Hyderabad. She declined to comment on how many jobs are likely to be created through this move and whether there would be any job cuts on similar facilities overseas.

However, certain sections of British press has predicted close to 350 jobs in Tiverton in south-west England, another 65 in Edinburgh in Scotland, as well as a further 600 or so in New York and White Plains in the US, Singapore in East Asia, and in several other offices around the world were likely to be affected tracking such move.

Reuters is believed to have indicated such migration possibility of core functions to its 1,100 staff worldwide on 28 July, which marks a significant shift from the prevailing trend of migrating non-core business to India. It is understood that the documents generated for the July 28 meeting suggested the company was making contingency plans for large-scale redundancies in the wake of the announcement.

It can be recalled that Reuters' content division was boosted by recent acquisition of Multex. .

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