British engineering company Rolls-Royce said it would cut up to 2,500 roles as its new chief executive seeks to build a more efficient business, in the latest turnaround plan designed to improve the company.
Rolls-Royce, whose engines and systems are used on the Airbus A350 and Boeing 787 as well as ships, submarines and in power generation, has been through multiple restructurings over the last decade, including one in 2020 aimed at surviving the pandemic which resulted in 9,000 job cuts.
The company said in a statement today that it would shed up to 2,500 roles out of its total staff of 42,000.
The streamlining plan would merge its engineering technology and safety groups, Rolls-Royce said, and as part of that its chief technology officer Grazia Vittadini would leave the business in April 2024.
The plan would also improve the company’s procurement and supply chain management to help cut costs, the company added. — REUTERS
