Investing
Rolls-Royce to cut 2,500 jobs in cost cutting drive -Sky News
© Reuters. FILE PHOTO: The logo of Rolls-Royce is pictured at the World Nuclear Exhibition (WNE), the trade fair event for the global nuclear community in Villepinte near Paris, France, June 27, 2018. REUTERS/Benoit Tessier/File Photo
(Reuters) -Rolls-Royce Holdings is set to axe about 2,500 staff as soon as Tuesday as part of a cost-cutting drive by its new chief executive, Sky News reported on Monday.
The job cuts will be distributed across the engine maker’s global operations and are likely to affect hundreds of UK staff, the report said citing people familiar with the matter.
Rolls-Royce (OTC:) did not immediately respond to a request for comment.
The blue-chip company has experienced a strong recovery under Tufan Erginbilgic, who took over as CEO last January and has since said the firm’s cost base was being “tightly managed” to offset inflationary cost pressures.
In May, Rolls-Royce said it had made no decisions regarding changes to its workforce, in response to a Sunday Times report that it was expected to cut about 3,000 non-manufacturing staff.
Read the full article here
-
Side Hustles5 days ago
Mark Zuckerberg Is Now Second Richest Person in the World
-
Investing5 days ago
Nvidia CEO Jensen Huang: Demand For Blackwell AI Is Insane
-
Side Hustles6 days ago
How to Be Unapologetically You and Why It Matters
-
Side Hustles6 days ago
With AI Magicx, It’s Like Getting an Entire Creative Team in One Money-Saving AI Tool
-
Side Hustles5 days ago
Meta Previews Movie Gen, AI Tools That Turn Dreams to Videos
-
Investing3 days ago
Hurricane Helene Hits Spruce Pine Mine, Quartz Used for Tech
-
Passive Income6 days ago
How AI-Driven Personalization Is Transforming the Retail Industry
-
Investing5 days ago
BCA says investors should fade the real estate rally By Investing.com