The cuts come as new chief executive Tom Glocer takes over the running of the company. The American-born Glocer succeeds Peter Job and is the first non-British chief of the company.
Glocer was appointed chief executive designate in December and has taken an increasingly active role in running Reuters.
The job cuts, which will be made around the world, are part of Reuters' plan to save £150m by 2003 as it attempts to migrate its business towards the internet. While some senior managers are expected to go, the cuts are not expected to affect editorial staff.
Reuters is expected to report operating profit of around £333m for the six months to June, up on £312m last time.
Reuters' shares closed on Friday at 775p and opened slightly down this morning at 770p.