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Rolls Royce announced to cut at least 9,000 jobs from its global workforce of 52,000 as part of restructuring program.
The Aircraft engine maker said “the proposed reorganisation is expected to generate annualised savings of more than £1.3bn, of which we expect headcount to contribute around £700m.”.. “The cash restructuring costs related to these actions are likely to be around £800m, with outflows incurred across 2020 to 2022.”
The proposed reorganisation will predominantly affect our Civil Aerospace business, where the company will carry out a detailed review of its facility footprint.
“Our Power Systems business and ITP Aero are currently developing, negotiating and executing extensive measures to deal with the current situation. Our Defence business, based in the UK and US, has been robust during the pandemic, with an unchanged outlook, and does not need to reduce headcount.”