Thomson Reuters to Cut 3,000 Jobs

Five percent of work force

Thomson Reuters Corp. (TRI), a provider of news and information services, plans to cut 3,000 positions, or about 5 percent of the workforce, in a bid to focus on growth markets and boost profitability.

The announcement followed higher-than-projected earnings at Thomson Reuters, which is trying to rebound from a lingering slump on Wall Street brought on by the financial crisis and recession. Excluding some items, the company posted profit of 48 cents a share for the third quarter. That beat the 44 cents estimated by analysts, according to data compiled by Bloomberg.