Enter the e-mail where we will send you an activation code


Rolls-Royce to cut 4,600 jobs to save $536 million a year

CNBC CNBC
2 months ago
Rolls-Royce to cut 4,600 jobs to save $536 million a year

"These changes will help us deliver over the mid and longer-term a level of free cash flow well beyond our near-term ambition of around 1 billion pounds by around 2020," Chief Executive Warren East said in a statement on Thursday.

The staff reductions and upheaval at the business comes at a time when Rolls-Royce is under pressure in the biggest part of its business, its aero engines unit, after issues on some of its engines grounded planes and led to complaints from airline customers.

Rolls-Royce has 55,000 employees worldwide of which 26,000 are in Britain and this reduction in staff follows previous job cuts under East, who joined the company three years ago with a mandate to turn it around.

0 comments