Rolls-Royce reported a massive £5.4bn loss and plans to close down several production sites… – : Newsflight :
Manufacture , August 30,2020

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Rolls-Royce reported a massive £5.4bn loss for the first half of the year, 2020.

The Aircraft engine maker does not expect orders to recover to pre-Covid levels until 2025., as it plans to deliver only 250 engines this year instead of originally expected 450 engines.

The slump in demand resulted Rolls-Royce to undertake serious restructuring, which include closing down several production plants across the nation.

Earlier the company announced to cut 9000 jobs out of which 2,500 of its UK workers had applied for voluntary redundancy or agreed to take early retirement,

According to RR, more than 4,000 people in its civil aerospace division have left the company, reducing its global workforce to 48,000; a further 5,000 are due to leave before the end of the year.

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