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Rolls-Royce Holdings PLC it set to axe 2,500 jobs as part of a cost-cutting plan, driven by its new chief executive, according to Sky News reports on Monday. Sky News said the aircraft engine manufacturer based in Derby is expected to announce plans to lay off around 2,500 staff as soon as Tuesday. https://news.sky.com/story/rolls-royce-chief-to-axe-2500-jobs-in-cost-cutting-drive-12985734 The cuts will be distributed across its global operations and are likely to affect hundreds of UK staff, according to people close to the situation. The restructuring of its non-engineering workforce marks a significant step in the restructuring programme undertaken by Tufan Erginbilgic, who took over as Rolls-Royce’s chief executive at the start of the year. Since his appointment, Erginbilgic has described the company as ‘a burning platform’ and said one of its main subsidiaries had been ‘grossly mismanaged’, underlining his reputation as a plain-speaking executive. Shares in Rolls-Royce closed little changed at 213.10 pence in London on Monday. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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