\u2018We are \u200bfocusing our capacity where it matters most to customers\u2019, a Thomson Reuters spokesperson said.<\/p>\n
Thomson Reuters, the Canadian parent company behind Reuters News, is cutting up to 500 engineering jobs<\/a>, joining a long list of technology providers shedding parts of their workforce in preference for AI.<\/p>\n Layoffs at the content and technology company could affect around 1.8pc of its global workforce of 27,100, and around 5.2pc of its 9,400-strong operations and technology unit, according to a Reuters New source.<\/p>\n These latest layoffs come as economists and technology leaders, in a fresh joint statement<\/a>, warned against the negative effects of widespread and uncontrolled AI adoption on economies, including large-scale job displacement.<\/p>\n Similarly, the Economic and Social Research Institute, earlier this year, found that AI adoption in Ireland is likely to lead to \u201cmoderate increases in income inequality<\/a>\u201d in the short run.<\/p>\n Reports also suggest that AI\u2019s uptake in many Irish and UK-based organisations is\u00a0not adequately supported by targeted investment<\/a>\u00a0in skills and technology adoption.<\/p>\n \u201cAs customer expectations across legal, tax and regulatory workflows evolve, we are \u200bfocusing our capacity where it matters most to customers,\u201d \u200ba \u2060Thomson Reuters spokesperson told Reuters News yesterday (13 July).<\/p>\n The Toronto-based company announced revenue growth of 10pc in the quarter ending March, with its three biggest segments benefiting from its industry-specific AI products. The company also anticipates a better-than-expected outlook for 2026.<\/p>\n Technology leaders have been sounding the alarm on AI\u2019s impact on jobs for a while \u2013 with many, including Mark Zuckerberg, praising slimmer teams, flatter management structures and cheaper AI agents.<\/p>\n Earlier this month, Microsoft announced plans to cut 4,800 jobs at the company, responding to changes to the industry\u2019s landscape caused by the new technology. Meta reportedly cut as many as 350 Irish jobs in a recent round of layoffs that affected around 8,000 employees.<\/p>\n Other major companies including Block, Atlassian, Oracle and Amazon have also cut thousands of jobs.<\/p>\n