A further indicator of the downturn in the economy is dished up by Reuters as they announce 3,000 job cuts leading up to 2005. This is on top of the 3,200 over the past two years. The company is facing increasing competition in it’s main markets. Their main rival is Bloomberg, but they are facing competition from my ex-employer Thomson Financial. My redundancy was caused by a re-alignment within Thomson as they went after the “big two” of Reuters and Bloomberg. I don’t take this announcement to mean that Thomson and Bloomberg are winning, only that there will be more consolidation (redundancies!) within the market. Perhaps Reuters just need to spend more time concentrating on the real news.

Perhaps it’s an omen that the Reuters redundancies come on the same day that Asda announces an expansion plan!

Listening to the radio, the discussion was about exporting jobs as more call centres are opened in India. Reading the newspaper, the article said that we are importing foreign workers to staff the NHS. It’s no wonder I can’t find a job.

Does the Job Centre really need to use a recruitment agency to hire staff?


posted by Martin Wright at 11:12 am | Link