Rolls-Royce announces 4,600 job cuts

Latest news

    Breaking News image

    Rolls-Royce is to cut 4,600 jobs over the next two years as part of a restructuring programme.

    Middle managers and back-office staff are to bear the brunt of the cuts, which are expected to hit its Derby base hard.

    The engineering firm is refocusing its business on civil aerospace, defence and power systems.

    About a third of the job cuts are expected to happen by the end of this year, Rolls-Royce said.

    The programme is expected to continue throughout 2019, with full implementation by mid-2020.

    Rolls-Royce said that the programme would save it £400m a year by the end of 2020.

    Chief executive Warren East said: “Our world-leading technology gives Rolls-Royce the potential to generate significant profitable growth.

    “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.”

    Chris Williamson, Labour MP for Derby North, said the job cuts were “a damning indictment” of the government’s hands-off industrial policy.

    “Currently we have private shareholders directing the fate of some of Britain’s most premier firms, with total disregard for the economic needs of the country. The government has to intervene,” he said.

    In February 2017, the jet engine-maker reported a record loss of £4.6bn.

    In June 2017, Rolls-Royce cut a deal with unions to safeguard 7,000 front-line engineering jobs in the East Midlands for five years and invest in UK aerospace facilities.

    View the original article:

    In the same category are

    Newcastle United player Ciaran Clark attacked in Magaluf bar Image copyright Getty Images Image caption Ciaran Clark was attacked at 02:00 on Sunday morning, police say Newcastle United defender Ciaran Clark...
    Addenbrooke’s ‘silly’ cancer nurse Debbie found after appeal Image copyright Liz Brown Image caption Liz Brown's nurse Debbie (right), has been found after an appeal on social media A woman has tracked down ...
    World Cup 2018: Dele Alli misses England training with thigh injury England midfielder Dele Alli (left) was taken off towards the end of the opening Group G game against TunisiaMidfielder Dele Alli missed England trai...
    Migrant children: US battle moves to Congress Media playback is unsupported on your device Media captionDonald Trump: "You're going to have a lot of very happy people"The US political battle ove...
    Wimbledon tennis to be screened in 4K HDR by BBC Image copyright PA Image caption Garbine Muguruza will defend her Wimbledon ladies' singles title at this year's event The Wimbledon Championships...
    Wimbledon 2018: All Centre Court matches will be in Ultra HD via BBC iPlayer Garbine Muguruza is the defending women's singles championWimbledon 2018 on the BBCCoverage: Watch live on BBC TV, BBC iPlayer, BBC Red Button, Conne...

    Leave a comment

    Your email address will not be published. Required fields are marked *

    This site uses Akismet to reduce spam. Learn how your comment data is processed.