Thomson-Reuters, the professional information services giant formed after Thomson took over Reuters, is positive about India. Even in these trying times when there is a global economic slowdown, the firm claims India has been a positive story along with China, the two very fast-growing markets.
It today has close to 7,000 employees in India, about 5,000 of whom are based in Bangalore. The firm has a three-year plan for integrating the operations of the merged entity. This would include redeploying the staff wherever there are overlaps.
The merged entity, with its content sets and data sets, have had to make choices of eliminating roles and at the same time has had to pick up staff for strategic functions and other staff to perform fundamental jobs.
Today, the economic downturn and the weak advertising market has been straining the company’s media business and the financial industry’s troubles are challenging its professional services.
Since the merger Thomson Reuters “has become more global and is selling its services globally,” said Peter Moss, managing director, content, technology and operations, markets division, Thomson Reuters during his tour to mark the merger turning an year old. Thomson had been strong in North America, while Reuters strong in Asia.
The merger has made it a more global firm and it sells it products more globally. The firm’s legal business has been a major focus. It provides legal information to firms wanting to set up their business and also provide information for legal firms.
The company had recently released its annual report for last year, showing full-year revenues of $13.4 billion, a rise of 8 per cent on 2007, but Moss refused to give any forecasts for the year ahead.
