US media and financial information giant Thomson Reuters says it swung to a loss in the fourth quarter as it cited "headwinds" in its restructuring drive.
The New York-based company reported a loss of $US351 million ($A389.44 million) in the fourth quarter, compared with a profit of $352 million a year earlier.
The company has absorbed a number of one-time charges in the past year, as it announced 2500 job cuts last February and another 3000 reductions in October.
Most of the cuts affected its financial information unit, which provides terminals for market professionals.
The company, which also operates the Reuters news agency, said in October that five per cent of the editorial staff would be cut, among the latest layoffs in the troubled media sector.
Chief executive James Smith said in the earnings release on Wednesday that the company was making progress on its restructuring goals.
"I am pleased that we were able to deliver on our full-year expectations, despite a tougher-than-expected external environment in the fourth quarter," he said.
"More importantly, we took significant strides to position the company to thrive in future years. Our transformation initiatives are taking hold, costs are coming out and innovation is coming forth.
"While the external headwinds were stronger than anticipated at year-end, particularly in Europe and the emerging markets, I am pleased with the progress we continued to make inside the company and with our customers. I am confident this progress will accelerate in 2014."
Revenues for the year fell three per cent to $US12.7 billion, but on a constant currency basis were up two per cent.
The Reuters news agency unit revenues for the year were stabled at $US331 million.
