Engine manufacturer Rolls-Royce has announced it will cut its global workforce by as many as 2,500 over the “next phase of its multi-year transformation”.
The UK-based engineering corporation and aviation engine specialist said the jobs were being cut as the business will move to an “increased focus on efficiency, simplification and… synergies”.
Go deeper with GlobalData
The company employs 42,000 people globally, with approximately half of those based in the UK. It is understood that the cuts will fall on the UK workforce, along with those in other locations.
The company has been under severe pressure since the global Covid-19 pandemic. In 2020, it cut 9,000 jobs to reduce costs and although it has recently shown signs of financial recovery, it suffered as a knock-on effect of global air travel restrictions.
Rolls-Royce did not confirm how much it was aiming to save with the redundancies.
See Also:
The new job cuts come after CEO Tufan Erginbilgic told media at the Paris Air Show that the company would look to shift focus to narrowbody jet engines.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataIn the statement announcing the new raft of redundancies, Erginbilgic said: “We are building a Rolls-Royce that is fit for the future. That means a more streamlined and efficient organisation that will deliver for our customers, partners and shareholders.
“Our business is full of committed, talented people and I believe these changes will enable them to build greater capability in areas that are key to our long-term success. This is another step on our multi-year transformation journey to build a high-performing, competitive, resilient and growing Rolls-Royce.”
Although Rolls-Royce said the cuts were “proposals”, it suggested at least some of the cuts would fall on the technology and safety teams, as the statement explained that “Engineering Technology and Safety will come together as a single team”.
Chief technology officer Grazia Vittadini was confirmed to be leaving the company in April 2024.
