Bloomberg cuts half of London staff

Following the cut backs announced in the US, the satellite based news agency Bloomberg has stated that it will also be cutting back on its UK based staff.

Currently there are around two hundred and twenty five people employed in the TV and radio newsroom, with a total of two thousand people employed in London.

Estimates suggest the job cuts will affect around eighty to ninety staff in the London offices.

The company says that the cuts are necessary as part of its restructuring plan.

No definite figures have been mentioned as the situation is still in the consulting stages.

These job cuts, if they do take place, will be the first since the company was formed in 1981.