Britain’s flagship engineering firm, which makes engines for Boeing and Airbus planes, said Tuesday that the cuts were part of a broader strategic overhaul to “remove duplication and deliver cost efficiencies.” The restructure will lead to between 2,000 and 2,500 job losses from a global workforce of 42,000, a cut of around 6%. “We are building a Rolls-Royce that is fit for the future.
“Cash generation has been unsatisfactory, and our debt is still too high. Too much of our gross profit is simply covering our overheads and interest payments.” Erginbilgic used the address to announce a “transformation program” that would create an “efficient business with a competitive cost base,” without detailing the impact on employees.
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