Rolls-Royce plans to axe at least 9,000 jobs – almost a fifth of its workforce – as it grapples with an “unprecedented” slump in demand caused by the coronavirus pandemic.
Chief executive Warren East warned that most of the cuts could fall in the UK as it embarks on a “major reorganisation”.
The FTSE 100 company is based in Derby and employs 52,000 people globally. Mr East warned it could close factories outright as it faces up to a drop in demand for its jet engines over the next few years because of travel restrictions.
Read about how the manufacturing giant is set for major reorganisation: https://www.telegraph.co.uk/business/2020/05/20/rolls-royce-cut-9000-jobs-covid-19-downturn/
Get the latest headlines: https://www.telegraph.co.uk/
Telegraph.co.uk and YouTube.com/TelegraphTV are websites of The Telegraph, the UK’s best-selling quality daily newspaper providing news and analysis on UK and world events, business, sport, lifestyle and culture.
