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Business News/ Companies / News/  Rolls-Royce to cut thousands of jobs: Report says

The Jet engine manufacturer Rolls-Royce is planning to layoff thousands of its workers to streamline its operations, The Times has reported. The luxury car manufacturer has hired consultants led by McKinsey & Co. to advise on the same, the report said.

The company is considering to layoff 3,000 non-manufacturing staff from its global workforce, the report said.

As part of the programme, the company plans to merge the non-manufacturing departments in each of Rolls’s civil aerospace, defence and power systems divisions, the report added.

“We are working at pace on our transformation across a number of work streams and only one part of one of those work streams is about realizing organizational efficiencies," Bloomberg  reported citing Rolls-Royce spokesperson.

“We have made no decisions whatsoever on any potential impact on employees and any suggestion otherwise is pure speculation’, the report further added citing the spokesperson.

The report further said Rolls-Royce’s headquarters is likely to be hit hardest by the cuts as most of its back-office administration functions are based in the city. 

Rolls-Royce CEO Tufan Erginbilgic has initiated a transformation program at the manufacturer, including some key management changes. 

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Updated: 28 May 2023, 09:18 PM IST
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