Reuters review: Adler updates staff
Friday 19 October 2018
Editor-in-chief Stephen Adler (photo) has updated Reuters staff on an organisational review aimed at making the agency "faster, smarter, more flexible and more effective".
The review was announced days after the spin-off of Thomson Reuters’ financial and risk terminals and data business, now rebranded Refinitiv. The business, controlled by private equity in a strategic partnership with Thomson Reuters, is Reuters largest customer with a 30-year contract worth at least of $325 million annually.
Two weeks ago, Adler set out a vision for more automation aimed at "faster, more insightful news coverage”.
“One of the initiatives that I previewed, and that is now underway, is to conduct a thorough review of how our news operation is organized and to make any changes necessary to render us faster, smarter, more flexible and more effective - and thus more successful - in 2020, 2025 and beyond,” he said in his latest message. “We endeavor to think boldly, engage internal and external stakeholders, leverage all available data, and rigorously test our assumptions.”
“Because we are now a business with a true P&L, providing us a fresh opportunity for re-imagination and growth.
“Because rapid technological advances have given us access to tools we barely could have imagined a few years ago and have also opened a challenging new arena for competition.
“Because news consumption patterns and business models are changing dramatically, creating new possibilities for us nearly every day.”
Adler is co-leading the project with global news editor Alessandra Galloni.
He said he had told the project team that the review will be done in the context of three important understandings:
- That Reuters is a mission-driven organization committed to journalistic excellence and integrity;
- That Reuters is a business committed to better serving its customers;
- That it is an employer committed to making Reuters an interesting, challenging and supportive workplace.