Current:Home > BackRolls-Royce is cutting up to 2,500 jobs in an overhaul of the UK jet engine maker-LoTradeCoin
Rolls-Royce is cutting up to 2,500 jobs in an overhaul of the UK jet engine maker
View Date:2024-12-23 20:57:38
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! (96)
Related
- Ariana Grande Shares Dad's Emotional Reaction to Using His Last Name in Wicked Credits
- Jana Kramer’s Ex Mike Caussin Shares Resentment Over Her Child Support Payments
- Human head washes ashore on Florida beach, police investigating: reports
- Jason Kelce Jokes He Got “Mixed Reviews” From Kylie Kelce Over NSFW Commentary
- Shawn Mendes Confesses He and Camila Cabello Are No Longer the Closest
- Suspect in deadly 2023 Atlanta shooting is deemed not competent to stand trial
- Georgia State University is planning a $107M remake of downtown Atlanta
- Man gets a life sentence in the shotgun death of a New Mexico police officer
- Blake Shelton Announces New Singing Competition Show After Leaving The Voice
- Mega Millions winning numbers for November 12 drawing: Jackpot rises to $361 million
Ranking
- Jennifer Lopez Turns Wicked Premiere Into Family Outing With 16-Year-Old Emme
- Quincy Jones' Cause of Death Revealed
- Judge sets date for 9/11 defendants to enter pleas, deepening battle over court’s independence
- Mandy Moore Captures the Holiday Vibe With These No Brainer Gifts & Stocking Stuffer Must-Haves
- Watch as dust storm that caused 20-car pileup whips through central California
- Mandy Moore Captures the Holiday Vibe With These No Brainer Gifts & Stocking Stuffer Must-Haves
- California researchers discover mysterious, gelatinous new sea slug
- Mandy Moore Captures the Holiday Vibe With These No Brainer Gifts & Stocking Stuffer Must-Haves
Recommendation
-
We Can Tell You How to Get to Sesame Street—and Even More Secrets About the Beloved Show
-
Missouri prosecutor says he won’t charge Nelly after an August drug arrest
-
Why Josh O'Connor Calls Sex Scenes Least Sexy Thing After Challengers With Zendaya and Mike Faist
-
Vogue Model Dynus Saxon Charged With Murder After Stabbing Attack
-
‘COP Fatigue’: Experts Warn That Size and Spectacle of Global Climate Summit Is Hindering Progress
-
Agents search home of ex-lieutenant facing scrutiny as police probe leak of school shooting evidence
-
Man gets a life sentence in the shotgun death of a New Mexico police officer
-
FanDuel Sports Network regional channels will be available as add-on subscription on Prime Video