Reuters in 2003
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Please note:
This case study was compiled from published sources, and is intended to be used as a basis for class discussion. It is not intended to illustrate either effective or ineffective handling of a management situation. Nor is it a primary information source.
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Case Details: |
Price: |
| Case Code |
: |
BSTA088 |
Electronic format: Rs.
300;
Courier (within India):Rs. 25 Extra
Themes- |
| Case Length |
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10 Pages |
| Period |
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2000 - 2003 |
| Organization |
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Reuters |
| Pub Date |
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2003 |
| Teaching Note |
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Not Available |
| Countries
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Global |
| Industry |
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Financial Data
Services |
Abstract:
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Reuters, the financial information firm, seemed to be in serious trouble, with a
loss of $740 million in 2002. 1,200 jobs had been cut during 2001-2002 and
another 3,000 cuts were planned in 2003. The company's fall had been sudden.
Until 1997, Reuters had been the undisputed leader in this market. Since then,
competition had snatched market share. Reuters' core business, the terminals it
served, had fallen by 18%. Reuters' average revenue from each terminal was down
to a quarter of Bloomberg's. Technology spending cuts had also hit Reuters hard.
Reuters had not faced such a bleak situation in its 150-year history. The case
provides an overview of how industry leaders often fail to respond fast enough
to the changing business environment.
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Contents:
Keywords:
Reuters, Bloomberg, Financial data services, Fast forward, Tom Glocer, Financial information, Instinct, On-line trading, Thomson Financial, Peter Job, Reuters in trouble, Losing clients, Cost cutting, Downsizing, Merrill Lynch
Reuters in 2003
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