Rolls-Royce to cut 4,600 jobs mainly in Britain

14 June, 2018, 11:56 | Author: Eric Barnett
  • No Coffee Allowed – Rolls Holds A

The restructuring will reduce the number of management roles, and that engineering jobs will also be affected.

He has already cut out layers of Rolls's bloated management, having previously said that the company was too slow to respond to.

Rolls-Royce manufactures engines and power systems for aircraft, ships and energy producers.

The firm said in a statement Thursday that it would make the cuts over the next two years as it seeks to reduce annual costs by £400 million ($535 million) by 2020.

Recent annual figures showed Rolls-Royce returned to profit past year with a pre-tax surplus of £4.9 billion, thanks to a £2.6 billion accounting boost from the recent strengthening of the pound.


"The creation of a more streamlined organisation with pace and simplicity at its heart will enable us to deliver on that promise, generating higher returns while being able to invest for the future", he added.

Rolls said the latest round of restructuring was expected to cost the group £500 million.

"To do this we are fundamentally changing how we work". In total, the company employs around 55,000 worldwide.

Rolls-Royce has announced a major shakeup of its business, including 4,600 job losses, mainly in the UK.

Rolls said its group-wide revamp will see it shift away from operating with "overlapping activities between individual business units and a large corporate centre".

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