Summary: British engineering company, Rolls-Royce, plans to cut up to 2,500 jobs as part of its new CEO’s efforts to improve efficiency and streamline the business. The company, known for its engines and systems used in various industries, has undergone multiple restructurings in the past. The latest plan includes merging engineering and safety groups and improving procurement and supply chain management. Chief technology officer Grazia Vittadini will leave the company in April 2024 as part of the streamlining process.
Rolls-Royce, a renowned British engineering company, has announced its plans to cut up to 2,500 roles in order to build a more efficient business. The move comes as the company’s new chief executive, Tufan Erginbilgic, aims to implement a turnaround plan to improve the company’s performance.
The company, known for its engines and systems used in the aviation, maritime, and power generation industries, has previously undergone several restructuring efforts. In 2020, Rolls-Royce cut 9,000 jobs in an attempt to survive the challenges posed by the COVID-19 pandemic.
Erginbilgic, who took over as chief executive in January, is determined to further transform the company. As part of the streamlining plan, Rolls-Royce will merge its engineering technology and safety groups. This move is expected to lead to the departure of the company’s chief technology officer, Grazia Vittadini, in April 2024.
The CEO expressed that the job cuts and streamlining efforts are part of a larger transformation journey to build a high performing, competitive, resilient, and growing Rolls-Royce. In addition to the role reductions, the company also aims to improve its procurement and supply chain management to reduce costs. The plan is in line with the company’s ongoing commitment to enhancing efficiency and profitability.
Tags: Rolls-Royce, job cuts, efficiency drive, restructuring, Tufan Erginbilgic