The layoffs are part of the company’s efficiency strategy introduced by new management.
Rolls-Royce ( RR.L ) said it would cut up to 2,500 jobs as part of a business optimization effort. Reuters reported this on October 17.
Rolls-Royce, whose engines and systems power the Airbus A350 and Boeing 787, as well as ships, submarines and power generation, has undergone several restructurings over the past decade, resulting in more than 13,000 layoffs. of work.
CEO Tufan Erginbilgic, who took over the company in January, is trying to address its deficit as Rolls-Royce has long lagged behind General Electric, its main competitor in the wide-body aircraft sector.
On Tuesday it announced plans to cut up to 2,500 positions among its 42,000 staff.
“This is another step in our multi-year transformation journey to create a high-performance, competitive, sustainable Rolls-Royce,” said Erginbilgic.
The continuation of long-haul flights this year, as well as the new CEO’s strategy, sent the company’s shares up more than 130% this year, according to Reuters.
As you know, Rolls-Royce has 21,000 employees in the UK, 11,000 in Germany and 5,500 in the USA. The company did not specify where exactly the cuts would take place.
We remind you that in the first five months of 2023, more than 200 thousand IT workers in the world lost their jobs.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.