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Thomson Reuters to cut 2,000 jobs; profit tops estimates

The Thomson Reuters logo is seen on the company building in Times Square, New York October 29, 2013.

Thomson Reuters Corp (TRI.N) (TRI.TO) third-quarter earnings beat analyst expectations on Tuesday and the company said it would cut jobs worldwide, taking a fourth-quarter charge of $200 million to $250 million to streamline its business.

Thomson Reuters shares gained more than 4 percent in both New York and Toronto.

The restructuring, affecting about 2,000 jobs or 4 percent of its workforce, will take place across 39 countries and 150 locations and would mainly affect the Financial & Risk business and the Enterprise, Technology & Operations Group, the news and information company said. The company employs about 48,000 people globally, a spokesman said.

The changes come as part of its multi-year effort to streamline its businesses, Chief Executive Jim Smith said in an interview.

"It's about...


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