News and information group Reuters has begun its relocation to a new global headquarters at Canary Wharf in London, from its historic offices at 85 Fleet Street (pictured).
Reuters announced plans in September 2003 to quit its headquarters at 85 Fleet Street, which it has occupied since 1939, and move its London staff to a single office in Canary Wharf. Reuters said the move, which is part of the group's cost cutting Fast Forward programme, would release £32.3 million in estate capital and save £5 million per year in property costs.
The move will bring together 2500 of Reuters' dispersed London staff - currently located at six offices around the city - into a 280,000 square feet, 10-storey office at 30 South Colonnade, Canary Wharf. All staff, including editorial, will move between now and the end of August.
Reuters says the new building has an open plan design with no individual offices for staff, including the CEO Tom Glocer.
As apart of the move, a pedestrianised square next to the new headquarters has been renamed Reuters Plaza and hosts a giant outdoor LED screen displaying Reuters real time news and pictures. The building itself carries a 100 metre electronic ticker displaying real time price information from the major exchanges.
Commenting on the move, Glocer says: "Reuters move to Canary Wharf is more than simply a change of address. We leave behind a beautiful Lutyens-designed building that has been synonymous with Reuters since 1939. We move to a modern, highly-functional headquarters, close to our major financial services customers, in which we can house more than just the senior executive staff."