Reuters plans to triple its staff in India

[UpInArms]

http://www.iht.com/articles/542604.html

LONDON Reuters, the news agency and financial-data company, said Thursday that it would triple its number of employees in India by the end of next year, as the company tries to meet stringent cost-cutting targets.

As many as 1,500 employees will be located in Bangalore by 2006, company executives said during a ceremony to officially open the southern India facility. Reuters already has 340 employees in Bangalore, including about 13 journalists. The company said it planned to move mainly data and technical employees to Bangalore. The editorial staff in Bangalore is also expected to increase to 50 by early next year, the company told union representatives.

Tom Glocer, the Reuters chief executive, has embraced the concept of outsourcing as a way to reduce costs. He foreshadowed Thursday's announcement in September, telling an investor conference that the Bangalore office was already at 350 people, and hoped to get up to 1,200 to 1,500.

"The amazing thing - and this is the dirty little secret about outsourcing that people need to talk about publicly a bit more," Glocer said then. "We are flooded. We have 100 qualified applications for every data input person and these people have qualified accounting degrees."

Analysts said that the move by Reuters fits into the company's strategy. Reuters has pledged to cut £440 million, or $780 million, in costs by the end of 2006.

The New York Times
LONDON Reuters, the news agency and financial-data company, said Thursday that it would triple its number of employees in India by the end of next year, as the company tries to meet stringent cost-cutting targets.

As many as 1,500 employees will be located in Bangalore by 2006, company executives said during a ceremony to officially open the southern India facility. Reuters already has 340 employees in Bangalore, including about 13 journalists. The company said it planned to move mainly data and technical employees to Bangalore. The editorial staff in Bangalore is also expected to increase to 50 by early next year, the company told union representatives.

Tom Glocer, the Reuters chief executive, has embraced the concept of outsourcing as a way to reduce costs. He foreshadowed Thursday's announcement in September, telling an investor conference that the Bangalore office was already at 350 people, and hoped to get up to 1,200 to 1,500.

"The amazing thing - and this is the dirty little secret about outsourcing that people need to talk about publicly a bit more," Glocer said then. "We are flooded. We have 100 qualified applications for every data input person and these people have qualified accounting degrees."

Analysts said that the move by Reuters fits into the company's strategy. Reuters has pledged to cut £440 million, or $780 million, in costs by the end of 2006.

The New York Times
LONDON Reuters, the news agency and financial-data company, said Thursday that it would triple its number of employees in India by the end of next year, as the company tries to meet stringent cost-cutting targets.

As many as 1,500 employees will be located in Bangalore by 2006, company executives said during a ceremony to officially open the southern India facility. Reuters already has 340 employees in Bangalore, including about 13 journalists. The company said it planned to move mainly data and technical employees to Bangalore. The editorial staff in Bangalore is also expected to increase to 50 by early next year, the company told union representatives.

Tom Glocer, the Reuters chief executive, has embraced the concept of outsourcing as a way to reduce costs. He foreshadowed Thursday's announcement in September, telling an investor conference that the Bangalore office was already at 350 people, and hoped to get up to 1,200 to 1,500.

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