Reuters is expected to reveal plans to cut between 1,000 and 1,200 jobs when it announces its half-yearly results today, according to a report from the FT.
The Financial Times report says the job losses are part of Reuters' attempt to cut £150 million from its cost base by 2003 and is part of the company's attempt to shift its business on to the Internet.
The cuts are expected to be spread among the group's 18,000 staff around the world. They will include about 50 senior managers but are not expected to include editorial staff, writes the paper.
According to the FT report, Reuters is expected to show an operating profit of about £333 million, excluding goodwill amortisation and one-off items for the six months to the end of June - compared with £312 million for the same period last year.