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by on February 14, 2013

Rumors of the death of the old media have not been exaggerated. Thomson Reuters announced today that they’d be cutting 2,500 jobs, a full 4 percent of its entire workforce. CEO Jim Smith explained, “These are not easy decisions, but our cost structure has to meet our customer’s requirements.”

The company profited heavily in the fourth quarter – they must be one of the companies President Obama ripped as corporate profiteers at the expense of employees – but they’re laying people off just the same. The company’s stock slid on the firing announcements.

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One Comment
  1. Anonymous permalink

    These liberal news services do not have a clue who bears the responsibility. Their mistake is not being a member of a Public Sector Union, a favorite of Obama’s Policies. The old Media no longer has a monopoly on the news. Today everybody with a computer can put out the news. No longer is the news one-sided but people have access to multiple opinions, some good, some bad. What survives is FAIR and BALANCED reporting! This is why Fox News is kicking butt. and Conservative Radio pounds to bits Liberal Radio. People do not have to read a newspaper, knowing how biased most are. Most big newspapers are now just a propaganda arm of the Obama administration! Four more years of Obama’s failed policies will see more Layoffs. Chalk it up as Self-inflicted wounds! Their qualifications may land them a job at McDonald’s. Perhaps NOT.

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