Current:Home > FinanceRolls-Royce is cutting up to 2,500 jobs in an overhaul of the UK jet engine maker-Angel Dreamer Wealth Society D1 Reviews & Insights
Rolls-Royce is cutting up to 2,500 jobs in an overhaul of the UK jet engine maker
View Date:2024-12-23 16:43:22
Jet engine maker Rolls-Royce said Tuesday it’s cutting up to 2,500 jobs globally as part of a corporate overhaul that its new CEO is carrying out.
The aerospace company was hit hard by the COVID-19 pandemic that decimated demand for air travel. Tufan Erginbilgic, who took over as chief executive in January, said the layoffs are aimed at making Rolls-Royce “more streamlined and efficient.”
Rolls-Royce, based in Derby, central England, didn’t disclose where jobs will be cut, but around half of its 42,000-person workforce is based in the United Kingdom.
The cuts will remove duplication and bring cost efficiencies in the latest stage of its “multi-year transformation,” the company said.
“We are building a Rolls-Royce that is fit for the future,” Erginbilgic said.
The company slashed 9,000 jobs globally in 2020 as it grappled with the collapse of air travel during the pandemic.
The new turnaround plan also includes creating a new company-wide procurement division that can take advantage of Rolls-Royce’s size to cut costs and reduce supply chain delays.
veryGood! (82)
Related
- Pennsylvania House Republicans pick new floor leader after failing to regain majority
- New York Giants OL Evan Neal shoos 'fair-weather' fans: 'A lot of fans are bandwagoners'
- Nonreligious struggle to find their voice and place in Indian society and politics
- Tennessee Dem Gloria Johnson raises $1.3M, but GOP Sen. Marsha Blackburn doubles that in Senate bid
- Rachael Ray Details Getting Bashed Over Decision to Not Have Kids
- 'Climate captives': Frogs, salamanders and toads dying rapidly as Earth warms, study says
- Shelling in northwestern Syria kills at least 5 civilians, activists and emergency workers say
- The flight attendants of CHAOS
- New York eyes reviving congestion pricing toll before Trump takes office
- Shooting survivor brought to tears by Kim Kardashian after Skims shapewear saves her life
Ranking
- Watch as massive amount of crabs scamper across Australian island: 'It's quite weird'
- Voter rolls are becoming the new battleground over secure elections as amateur sleuths hunt fraud
- A man charged with voter fraud in Florida blames rivalry between Trump and DeSantis supporters
- Trains collide in northern Polish city, injuring 3 people, local media reports
- The USDA is testing raw milk for the avian flu. Is raw milk safe?
- Nebraska lawmaker says some report pharmacists are refusing to fill gender-confirming prescriptions
- Millions of people are watching dolls play online. What is going on?
- New York City subway gunman Frank James deserves life in prison: Prosecutors
Recommendation
-
Get Your Home Holiday-Ready & Decluttered With These Storage Solutions Starting at $14
-
Chipotle has another robot helper. This one makes salads and bowls.
-
'Her heart was tired': Woman who ran through Maui wildfire to reach safety succumbs to injuries
-
Assistants' testimony could play key role in MSU sexual harassment case against Mel Tucker
-
Patricia Heaton criticizes media, 'extremists' she says 'fear-mongered' in 2024 election
-
The Real Housewives of Miami's Spicy Season 6 Trailer Will Make You Feel the Heat
-
Georgia state Senate to start its own inquiry of troubled Fulton County jail
-
Temptations, Four Tops on hand as CEO shares what’s going on with Motown Museum’s expansion plans