Thomson Reuters 'halts hiring, travel'

Citing an internal Thomson Reuters memo, it said new positions will be filled with existing employees, except where jobs are being moved to lower-cost locales such as Beijing, Bangalore or Poland.

Devin Wenig, CEO of the markets division, told staff that the company needs to make “prudent choices” as the pace and intensity of the changing financial landscape is “exceptional”.

The WSJ report, picked up by Thomson Reuters’ competitor Bloomberg, said jobs that have been vacated can be filled with an outside employee only with the approval of certain executives. ■