Financial news and information provider Reuters Group Plc said yesterday it would cut almost 7 per cent of its workforce to accelerate cost-cutting as it signalled slowing growth in its half-year results.

The company said it would cut 1,100 jobs over two years as part of a drive to save an extra £85 million sterling (#138 million) annually by 2002, in addition to £155 million it had already targeted to save from the cost base by 2003.

Reuters employs around 30 people in Dublin but nobody was available to comment on how the job cuts may effect its Irish operations.