Reed Elsevier May Cut Up To 1,000 Jobs
By Rafat Ali - Tue 19 Feb 2008 05:37 PM PST
Reed Elsevier (NYSE: RUK), the B2B media giant, has plans to cut as many as 1,000 jobs in the next few years, as part of its efficiency drive, according to Telegraph in UK, citing sources. The Anglo-Dutch company which owns Variety, LexisNexis and other brands, is centralizing procurement, human resources and IT across the group, and this along with the job cuts could help in as much as $200 million in annual savings, the story says. Reed is announcing its quarterly results tomorrow, though it is unclear if these job cuts will be announced with it. Reed employs nearly 37,000 people around the world.
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