By: (AP) News and financial-data giant Reuters Group PLC on Monday said it will provide basic news coverage of some U.S. companies from a bureau to be established in Bangalore, India.
It will hire six journalists for the bureau, the company said. They will monitor announcements from 3,000 small and medium-sized U.S. companies.
The reporting roles in Bangalore are new positions and won't replace reporters elsewhere in the world, the company said.
Under a plan announced a year ago, Reuters aims to cut costs by about $800 million by 2005. It is slashing its payroll by 3,000, bringing the work force down to 13,000.
In a phenomenon known as offshoring, U.S. corporations are moving white-collar jobs to India and other Asian countries where labor is cheap. Most of the jobs have been in information technology, but several Wall Street banks announced last year that they were hiring financial analysts in India.
Comments
No comments on this item Please log in to comment by clicking here