Categories: Business

Rolls-Royce to cut 2,600 jobs over next 18 months

Rolls-Royce has announced it is planning to cut 2,600 jobs over the next 18 months.

The company said most of the jobs would go in its aerospace division, with most of the posts being shed in 2015.

It is not clear where the cuts will be made from Rolls-Royce’s global workforce of 55,000, 24,000 of whom are in the UK.

The company’s chief executive John Rishton said: “The measures announced today will not be the last, however they will contribute towards Rolls-Royce becoming a stronger and more profitable company.”

Last month, Rolls warned that its underlying revenues for 2014 would be 3.5-to-4% lower than expected.

Rolls-Royce has announced it is planning to cut 2,600 jobs over the next 18 months

The company said voluntary redundancy would be offered, although it could not rule out compulsory redundancies.

The company’s UK staff are employed at four locations in the East Midlands, as well as 1,500 at five sites in the North West and 2,400 employees at six locations across Scotland.

The two largest sites are in Bristol and Derby.

Rolls-Royce said it had become more efficient, and cited the fact a large engineering team, needed for the development phase of two Trent engines, were no longer needed as both these were now in production.

That would point to job losses in Derby, where the Trent engines, used by many international airlines, are built.

Rolls-Royce is the second largest aero-engine maker in the world.

The company has customers in more than 120 countries, including more than 380 airlines and leasing firms, 160 armed forces, 4,000 marine customers including 70 navies, and 1,600 energy and nuclear customers.

hd037AU7fYM
Clyde K. Valle

Clyde is a business graduate interested in writing about latest news in politics and business. He enjoys writing and is about to publish his first book. He’s a pet lover and likes to spend time with family. When the time allows he likes to go fishing waiting for the muse to come.

Recent Posts

House Panel Votes to Release Matt Gaetz Ethics Report

The US House Ethics Committee has voted to release its report on former Republican Representative…

4 days ago

ABC News to Pay $15M to Settle Trump Defamation Suit

ABC News has agreed to pay $15 million to President-elect Donald Trump to settle a…

1 week ago

South Korea’s Parliament Impeaches President Yoon Suk Yeol Following Martial Law Scandal

South Korea’s parliament has voted to impeach President Yoon Suk Yeol over his failed attempt…

1 week ago

Syria: Israeli War Planes Carry Out More Than 100 Air Strikes

Israeli war planes have carried out more than 100 air strikes in Syria on December…

2 weeks ago

Donald Trump Threatens 100% Tariff on BRICS Nations

President-elect Donald Trump has threatened to impose 100% tariffs on the BRICS countries if they…

3 weeks ago

Syria Coup: Rebels Take Control of Aleppo

Syrian troops have withdrawn from the city of Aleppo following an offensive by rebels opposed…

3 weeks ago