Chairman David Thomson speaks beside CEO Jim Smith during the Thomson Reuters Corp. annual general meeting for shareholders in Toronto, Ontario, Canada, May 3, 2017. REUTERS/Mark Blinch
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Thomson Reuters Corp. said Tuesday it would cut its workforce by 12 percent in the next two years, axing 3,200 jobs, as part of a plan to streamline the business and reduce costs.Shares in Thomson Reuters rose as much as 3.2 percent Tuesday, hitting an all-time high.Following the Blackstone deal, about 43 percent of Thomson Reuters' revenues come from its legal business, with 23 percent of sales coming from corporate clients and 15 percent of sales coming from its tax business.Shares in Thomson Reuters have risen by 40 percent since May, benefiting from the company buying back $10 billion worth of shares.
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