Refinitiv is reportedly axing around 2,000 jobs following its acquisition by Blackstone. The company has been in the news recently for a number of reasons, including allegations that it had paid bribes to secure contracts with Russian oil giant Rosneft. The job cuts are from corporate functions, like accounting and human resources, according to unnamed sources. However, Refinitiv's investment in technology means the company wants to recruit around 1,000 staff with cloud computing, AI, automation and customer service skills, the sources added.
Refinitiv is reportedly axing around 2,000 jobs following its acquisition by Blackstone. The move is part of a $650m cost-cutting process, as it looks to compete with Bloomberg in providing financial data services to banks and fund managers. The job cuts are from corporate functions, like accounting and human resources, according to unnamed sources. However, Refinitiv's investment in technology means the company wants to recruit around 1,000 staff with cloud computing, AI, automation and customer service skills, the sources added.