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Reuters lays off senior executives

Chief executive-designate of Reuters, Tom Glocer, has started a clearout of Reuters’ "old guard" of employees, laying off more than 50 senior executives and a few hundred middle-ranking staff worldwide.

A Reuters spokesperson said the redundancies are in central roles and are part of the firm’s business transformation programme. The programme, formerly called Project Gazelle, aims to migrate Reuters’ business -- mainly terminals it provides to banks and

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