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Thomson Reuters is eliminating 12 percent of its global workforce.The media company is drastically shrinking its staff, cutting 3,200 jobs and closing 55 offices by 2020. Reuters says it will employ roughly 23,800 people — down from its current workforce of 27,000.Reuters revealed its plans for the future at its annual investor day in Toronto. The stock is up 3 percent on the news."Thomson Reuters is routinely looking at ways to run our global business operations more efficiently and effectively," a Reuters spokesman told CNN Business."This disciplined approach sometimes includes the need to make personnel, or other, changes which allow us to balance our internal resources with the needs of our customers in a highly competitive environment."The company said a "majority" of the impacted employees have been notified, but it declined to say which divisions are affected.Part of Reuters' plans includes reducing its capital expenditures by 3 percent and cutting the number of products it sells. The company sells a newswire service, financial software, images and services for the legal industry.In October, Reuters sold a majority stake of its Financial and Risk unit to the private equity firm Blackstone Group for billion. Reuters joins other media companies in recently announcing layoffs. News startup Mic, newspaper New York Daily News and magazine publishers Meredith and Hearst all have recently eliminated a combined hundreds of jobs. 1463

TIJUANA, Mexico, Calif. (KGTV) -- Four people were injured after part of a hotel just south of the border exploded Monday morning. Televisa, citing Mexican authorities, says the explosion happened at Hotel Campamento, which is located about half a mile behind Las Americas Premium Outlets, around 11:20 a.m. Televisa reports that four people were injured, three of them with third-degree burns. Two of those injured are said to be in critical condition. RELATED: U.S. truck strikes vendors at Tijuana border crossingDue to high levels of gas in the area, 24 businesses surrounding the hotel, along with two other hotels, had to be evacuated, forcing 116 people out, Televisa reports. At this time, it’s unclear what caused the explosion, but a gas company that serves the area was called in to help authorities with the investigation, according to Televisa. 866

Toys “R” Us has officially stopped all their online sales.RELATED: 9 things to know about Toys R Us' liquidation saleAccording to a message on the company's website, their website has been shut down, but customers can still visit brick and mortar stores to take advantage of going out of business sales. This recent move has many worried that they are now running out of options to use their gift cards. However, there is one option consumers can take advantage of until Thursday, April 5.RELATED: Use your Toys "R" Us gift cards, store credit and rewards by April 15 and don't expect a refundBed Bath & Beyond posted on their Facebook that they are accepting Toys "R" Us and Babies "R" Us gift cards at a discount and turning them into e-gift cards that shoppers can spend in their stores or online.According to Bed Bath & Beyond's?card exchange website, they will accept any gift cards that have a balance of or greater — even if the card is partially used or has an uneven balance. Those interested in trading in their gift cards should visit https://bedbathandbeyond.cardcash.com/. Just keep in mind, the offer ends on Thursday, April 5, at 11:59 p.m. EST.  1243

There's a new Facebook hoax going around — and it's targeting your inbox."We’ve heard that some people are seeing posts or messages about accounts being cloned on Facebook. It takes the form of a 'chain mail' type of notice," a Facebook official said.Here's what happens: you receive a message from an existing Facebook friend telling you they've received a friend request from you. Then it says to check your account and instructs you to forward the message to all your friends.But users are following these actions without actually checking if they have a duplicate profile and it's leading to a lot of confusion, a Louisiana official said.The message reads: 678

There was a rare sight at San Diego City Hall on Tuesday.A local developer pitched a massive mixed-use complex with hundreds of homes to the council, in front of mostly empty seats. "Our focus has always been on creating a sense of place for the entire neighborhood," said builder Gary Levitt, of Sea Breeze Properties.Sea Breeze Properties plans to transform a 72-acre site just south of the 56 into hundreds of homes, plus offices, retail, and even a hotel and movie theater. The project, Merge 56, didn't get a single 'no' vote from multiple community planning groups.Some nearby residents even came to the meeting to support the project. But even with that backing, it still took five years just to get the council's unanimous vote of approval Tuesday.Levitt said the delays come from regulations, including environmental impact reports, and cost his company an extra million - about 15 percent of that in city processing fees.Councilman Scott Sherman said that is one reason we're in housing crisis. "At the end of the day all the prices get passed along to the consumer and the price of housing," Sherman said. Levitt said ideally it would take two years for a project to get approved. "It's a very expensive process and at the end of the day you're just playing with paper," he said. The project includes 242 new homes, condos, and apartments. Additionally, 47 of them will be affordable units. Two environmentalists did raise concerns about local impacts but the council didn't acknowledge them in their deliberation. Levitt's work, however, isn't done. He still has a number of permits to obtain. They're administrative, but he estimates it'll be about four months before he breaks ground.   1771

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