Reuters to move London headquarters to cut costs

Global news and information firm Reuters Group Plc said on Tuesday it was shifting almost all of its London staff to a new headquarters in the city’s docklands and selling its historic Fleet Street building.

The firm stated that it was consolidating its London office space, spread across 10 buildings, and almost all of its 3,000 London staff into a building at Canary Wharf, a financial district on the banks of the River Thames, to cut costs.

The new headquarters is on an estate developed by Canary Wharf Group, which is offering attractive terms to new tenants as it confronts rising vacancies and big job layoffs among its major clients in the financial services industry.