It is believed that the latest headcount cuts will mean that around 2,000 people, or 10 percent, of the workforce has been cut in the last year.
Reuter's fortunes mirror their main investment banking clients and these have suffered during the global economic downturn in the last 12 - 18 months.
The news agency has confirmed that the latest cuts will come mainly from senior and middle management and are part of a plan to cut costs by £235m by 2003.
The company share price hit an eight year low recently and its shares have lost more than half of their value in the last year.
Reuters To Cut 650 Jobs
The World's biggest provider of financial news, Reuters, has confirmed that it is to cut a further 650 jobs as it steps up its cost-cutting drive.
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