Why Thomson Reuters Stock Crushed it on Monday
The company is apparently handing out pink slips to members of its engineering team.
Overview
Although investors have been worried about the high price tag that comes with artificial intelligence (AI) build-outs, they continue to reward companies that embrace the technology. One example of this on Monday was the venerable news and data company Thomson Reuters (NASDAQ: TRI), whose stock rose by more than 5% on news that it was effectively pushing further into AI.
Thomson Reuters announced in a staff meeting that it will eliminate what it characterized as "a small number of roles" in its engineering ranks. This, fittingly enough, was reported by its Reuters unit, which published a news article citing an unnamed employee who was in attendance.
Image source: Getty Images.
Details
Source
Originally published at www.fool.com.