Reuters CEO Tom Glocer has delivered a scathing attack to company staff in an internal e-mail, berating them for delayed product launches and technical breakdowns that are damaging the firm's reputation.
According to a report by The Independent newspaper, the internal memo was sent to staff yesterday.
In the e-mail Glocer, who is currently restructuring the company under his Fast Forward programme, says he is especially concerned about delays to product launches, such as the Reuters Trader mid-tier desktop which was eventually launched eight-months behind schedule in August. He also slammed staff over service outages that occurred over the summer, when the company's data feeds went down, and criticised the company's crisis recovery procedures.
Glocer refers to these failures as damaging to the company's reputation. He warned his staff that actions have consequences - both good and bad - and he will continue to hold managers accountable for all aspects of the business.
Despite the dire warnings, Glocer's e-mail missive also pointed to rising customer satisfaction and said the firm was well on its way to achieving its goals.
In July Reuters reported a rise in pre-tax profits for the sixth months ending ending June 30th 2004, boosted by disposals of assets and cost cutting measures carried out under the Fast Forward programme.