Thomson Reuters to outsource IT

Most of the company's technology workers will transfer to the third-party IT services firm, which will be selected in the fourth quarter, it said.

Outsourcing is a common business practice often used to reduce staff and other costs. Thomson Reuters has previously outsourced part of its information technology and human resources functions to suppliers in India.

“The company has not eliminated any positions or issued any employee notifications related to this announcement at this time,” Thomson Reuters spokesman John Shaughnessy said in a statement. “We felt it was important to share the news of our decision with employees as soon as we were able."

He said the company is “routinely looking at ways to run our global business operations more efficiently and effectively”. ■