Confirming the job losses, the FTSE 100 company said the reduction in its workforce was down to cost cutting measures.

Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers.

Petroleum giant British Petroleum will cut 4,700 jobs this year in a cost cutting measure, the company announced Thursday. That amounts to about 5% of its total workforce.