Summary: Rolls-Royce, the UK jet engine maker, is implementing a corporate overhaul that includes cutting up to 2,500 jobs globally. The company, which has been severely impacted by the COVID-19 pandemic, aims to streamline operations and improve efficiency. The layoffs are part of a multi-year transformation plan led by the new CEO to make Rolls-Royce more resilient for the future. In addition to job cuts, the company plans to establish a procurement division to reduce costs and supply chain delays.
Rolls-Royce announced that it will be cutting up to 2,500 jobs worldwide as part of a corporate overhaul led by its new CEO. The aerospace company has been significantly affected by the COVID-19 pandemic, which resulted in a sharp decline in air travel demand. The layoffs are intended to streamline operations and increase efficiency.
Although the specific locations of the job cuts were not disclosed, approximately half of Rolls-Royce’s 42,000 employees are based in the UK. This move is part of a larger transformation plan aimed at eliminating duplication and achieving cost efficiencies.
In 2020, the company already reduced its workforce by 9,000 employees due to the impact of the pandemic on the aviation industry. The new CEO’s turnaround plan also includes the establishment of a company-wide procurement division. This division will leverage Rolls-Royce’s size to cut costs and address supply chain delays. By implementing these measures, Rolls-Royce aims to build a more resilient and future-proof company.
Tags: Rolls-Royce, job cuts, overhaul, COVID-19, aviation industry, efficiency, procurement division, supply chain