By: (AP) Financial news and information provider Reuters Group PLC plans to outsource as many as 20 editorial jobs to India from more expensive newsgathering locations around the world, a company spokeswoman said Monday.
Reuters will hire up to 40 journalists to staff a new newsroom in the Indian city of Bangalore to take over these editorial duties and to expand output for the company's news service. They will focus primarily on providing greater information about small and medium-sized companies that are publicly traded in the United States, London-based spokeswoman Susan Allsopp said.
The new employees will compile tables of financial data to accompany longer stories written by Reuters journalists elsewhere, and also provide information from news releases and filings to national regulatory authorities such as the U.S. Securities & Exchange Commission.
Reuters hopes to find new positions for the staffers whose jobs will be outsourced to India.
"There will be some impact, but we're trying to minimize that," Allsopp said.
The company hopes to complete most of the job transfers by the middle of next year. Allsopp could not immediately specify how much money Reuters expected to save by outsourcing the editorial jobs. As many as 20 employees could be affected, she said.
Reuters already employs 300 people in Bangalore at a separate center for the collation of financial market data for customers using Reuters information terminals.
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