Thomson Reuters Corp., a provider of news and information services, plans to cut 3,000 positions, or about 5 per cent of the workforce, in a bid to focus on growth markets.

The job reduction follows a move to eliminate 2,500 jobs earlier this year, the New York-based company said.

The job cuts will mainly affect the financial and risk division, the company’s biggest unit, and follow a move to eliminate 2,500 positions earlier this year.

Thomson Reuters chief executive officer Jim Smith, who took the top job in January, 2012, has been increasingly relying on cost cutting to improve profitability. The previous round of firings, announced in February, trimmed about 4 per cent of the workforce.

“We will pick up the pace of efforts to simplify and streamline our organization, to shift resources behind the most promising growth opportunities,” Smith said Tuesday in a statement.