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Rolls-Royce slashes up to 2,500 jobs in bid to make company more 'streamlined and efficient'

Company's CEO Tufan Erginbilgic said the layoffs are aimed at making Rolls-Royce "more streamlined and efficient". Earlier in 2020, the company slashed 9,000 jobs globally as it grappled with the collapse of air travel during the pandemic.

Edited By: Anurag Roushan @Candid_Tilaiyan London Published on: October 17, 2023 19:27 IST
Rolls-Royce
Image Source : PIXABAY Representative Image

As part of a corporate overhaul, Jet engine maker Rolls-Royce said Tuesday it's cutting up to 2,500 jobs globally. The aerospace company was severely hit by the COVID-19 pandemic that decimated demand for air travel.

Company's CEO Tufan Erginbilgic said the layoffs are aimed at making Rolls-Royce "more streamlined and efficient". Rolls-Royce, based in Derby in 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.

Company's reason for layoffs

The layoff 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.

Rolls-Royce receives order for engines from Air India

Earlier in February this year, Rolls-Royce said it has received an order from Air India for 68 Trent XWB-97 engines and there is also the option to supply 20 more such engines. This is the biggest ever order for such engines, which exclusively powers the Airbus A350-1000, it said. Air India has also ordered 12 Trent XWB-84 engines, the sole engine option for the Airbus A350-900, the engine maker said in a statement.

This was the first time that an Indian airline has ordered the Trent XWB and the deal will make Air India the largest operator of the Trent XWB-97 in the world, Rolls-Royce said without disclosing financial details of the order. 

(With PTI inputs)

ALSO READ: Microsoft implements new job cuts, laying off 276 employees

 

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