Rolls-Royce to cut up to 2,500 jobs as it overhauls under new boss
Rolls-Royce is set to cut up to 2,500 jobs worldwide as part of a major shake-up under its new boss.
Tufan Erginbilgic, who took over as chief executive in January, said the overhaul will make the Derby-based engineering giant "a more streamlined and efficient" business.
The aerospace engineering specialist, which currently employs 42,000 people, plans to remove "duplication" and deliver cost efficiencies through the latest stage in its transformation plan.
Rolls-Royce did not disclose where the job cuts will take place but around half of its current workforce are based in the UK.
The company's plan includes creating a new procurement division to reduce costs by leveraging the group's scale. It also plans to bring some back-office operations, such as human resources and finance, closer together.
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Mr Erginbilgic stated: "We are building a Rolls-Royce that is fit for the future." He added: "Our business is full of committed, talented people and I believe these changes will enable them to build greater capability in areas that are key to our long-term success."
He concluded: "This is another step on our multi-year transformation journey to build a high performing, competitive, resilient and growing Rolls-Royce." The new boss had been expected to reveal a significant shake-up involving job cuts after describing Rolls-Royce's performance as "unsustainable" earlier this year.
The ex-BP boss warned staff in January that it was their "last chance" to adapt, as per a briefing seen by the Financial Times. This comes after the company slashed about 9,000 jobs following the pandemic, as part of its plan to improve its financial situation.
* An AI tool was used to add an extra layer to the editing process for this story. You can report any errors to [email protected]
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