Reuters to Shift Editorial Jobs to India

[CVX]

Financial news and information provider Reuters Group PLC plans to outsource as many as 20 editorial jobs to India from more expensive newsgathering locations around the world, a company spokeswoman said Monday.

Reuters will hire up to 40 trained journalists to staff a new newsroom in the Indian city of Bangalore to take over these editorial duties and to expand output for the company's news service. They will focus primarily on providing greater information about small and medium-sized firms that are publicly traded in the United States, London-based spokeswoman Susan Allsopp said.

The new employees will compile tables of financial data to accompany longer stories written by Reuters journalists elsewhere, and also provide information from news releases and filings to national regulatory authorities such as the U.S. Securities & Exchange Commission.

Reuters hopes to find new positions for the staffers whose jobs will be outsourced to India.

"There will be some impact, but we're trying to minimize that," Allsopp said.

The company hopes to complete most of the job transfers by the middle of next year. Allsopp could not immediately specify the savings Reuters expected to make by outsourcing the editorial jobs. As many as 20 employees could be affected, she said.

Reuters already employs 300 people in Bangalore at a separate center for the collation of financial market data for customers using Reuters information terminals.

[xlt66]

So now the Brits are heading down the path to "outsourcing".

Very sad.

[illuminati]

I still view this type of outsourcing as the proverbial leak in the dam. The country that does the outsourcing is standing there sticking their fingers in the holes.

The countries that get the work are floating on the other side building a bigger and bigger ark.

I guess it's the natural evolution of shifting economic power...

Good luck Great Britain. Keep this up and you won't be able to swim your way out of it.