Business
Rolls-Royce cutting up to 2,500 jobs in an overhaul of the UK jet engine maker
Jet engine maker Rolls-Royce said Tuesday it's cutting up to 2,500 jobs globally as part of a corporate overhaul that its new CEO is carrying out.
The aerospace company was hit hard by the COVID-19 pandemic that decimated demand for air Travel. Tufan Erginbilgic, who took over as chief executive in January, said the layoffs are aimed at making Rolls-Royce “more streamlined and efficient."
Rolls-Royce, based in Derby, central England, didn't disclose where jobs will be cut, but around half of its 42,000-person workforce is based in the United Kingdom.
The cuts will remove duplication and bring cost efficiencies in the latest stage of its “multi-year transformation," the company said.
“We are building a Rolls-Royce that is fit for the future," Erginbilgic said.
The company slashed 9,000 jobs globally in 2020 as it grappled with the collapse of air travel during the pandemic.
The new turnaround plan also includes creating a new company-wide procurement division that can take advantage of Rolls-Royce's size to cut costs and reduce supply chain delays.
-
Business5h ago
Rhode Island Weather for April 29, 2024 – John Donnelly
-
Business11h ago
Best Places to Get Used Books in the Hudson Valley
-
Business17h ago
Why So Much Hate in the Hudson Valley Lately?
-
Business1d ago
Cutting, Welding, Marking: The Versatile Applications of Industrial Lasers
-
Business1d ago
Architectural Digest Tours a Hidden Gem For Sale in High Falls
-
Business2d ago
Ideas Wanted in Regards to a New Rail Trail in Beacon
-
Business2d ago
Caitlyn Clark and breaking the glass ceiling for women in all sports – John Cardullo
-
Business2d ago
In the news… your quick look at the week ending April 27th