In the battle with Bloomberg, Thomson Reuters blinks

The financial news and wire service company will reportedly lay off "thousands" as it licks its wounds from a failed battle with its rival.

The war for financial data wages on, but the battle has been lost -- at least for Thomson Reuters.

The news giant will reportedly lay off thousands of employees worldwide as it begins to reel from the battles it is waging with established leaders: for financial data, Bloomberg; for wire service news, the Associated Press.

Thomson Reuters, of course, is the product of a 2008 merger that brought together the Canadian information services company and the revered 161-year-old British news agency. Like Bloomberg, it sells specialized information to subscribers through terminals -- but its latest, the Eikon (pictured above), hasn't quite caught on as hoped, despite a string of technology acquisitions to bolster its platform -- including real-time data mining enterprise company Streamlogics in 2009, tick data provider Vhayu in 2009, energy analytics firm Point Carbon A/S in 2010 and banking data and analytics company Highline Financial in 2010.

Further, the company continues to suffer from an existential crisis over its purpose: publisher, or technology provider? The answer is of course both, but that's cold comfort when revenues aren't rising.

This post was originally published on


You have been successfully signed up. To sign up for more newsletters or to manage your account, visit the Newsletter Subscription Center.
See All
See All