Reuters, the electronic information group, is to move out of its historic headquarters in Fleet Street.
The company which is undertaking a $700 million cost-saving programme. It will be the last famous media name to quit Fleet Street over the past 20 years, and it is likely that Reuters will move its offices to Wapping, the home of its UK operations, or to Canary Wharf in the Docklands.
The decision to move follows a lengthy financial review of Reuters’ property portfolio, which saw the transfer of its US operations to a new headquarters on Broadway, in Manhattan, two years ago.
The removal can be seen as part of a far-reaching modernisation plan. Reuters had been expected to streamline its property portfolio under a three-year overhaul, prompted by a sharp decline in financial services and volatile demand for desk-top terminals.