November 12, 2018 / 2:55 PM / a month ago

STATEMENT FROM ITALY'S UNION REPRESENTATIVES

MILAN, Nov 12 - Reuters Italy’s journalists firmly reject today’s announcement in which Reuters News & Media Italia said it plans to start a collective dismissal process involving 16 colleagues, i.e. more than one third of Italy’s working force. We cannot accept the reasons given by the company for the layoffs, that is to say that the cuts are of a plan to reorganize the newsroom, making it stronger and more competitive. We cannot believe such a downsizing is necessary for a group that just reported a third-quarter profit, says has more than $2 billion for potential acquisitions, is carrying out a share buyback program and can count – unique example in the global editorial industry — on future guaranteed revenues of $350 million a year for the next 30 years, as a part of the deal it agreed with Blackstone when it sold its Finances & Risk activities. In our opinion the move is both uncalled for and disproportionate. That is the reason why we called a strike, starting Monday’s afternoon, and news production is stopping until Wednesday morning. Our union representatives have been given a mandate to call another strike for up to another three working days, for a total of five working days. The newsflow out from Italy – both in Italian and in English – is therefore interrupted. Italy’s Union representatives

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