Rolls-Royce to cut 4600 jobs

June 14, 2018

UK engineering giant Rolls-Royce has announced 4600 jobs will be cut over two years.

Britain's Rolls-Royce will cut 4600 jobs primarily in the UK as part of a plan to simplify its business and save STG400 million ($A707 million) per year by the end of 2020.

The engineering company said the job cuts and overhaul of its business would cost it STG500 million and they would be spread across 2018, 2019 and 2020, and would be reported as separate one-off costs, allowing it to stick to its targets for free cash flow.

In a statement, Rolls-Royce said around 1500 jobs would be lost by the end of the year, with more cuts due in 2019 and 2020.

The company said it was seeking to reduce the number of management roles, and that engineering jobs will also be affected.

More in National
Login Sign Up

Dummy text