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Pin to quick picksRolls-Royce Share News (RR.)

Share Price Information for Rolls-Royce (RR.)

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Share Price: 445.20
Bid: 445.00
Ask: 445.20
Change: -5.80 (-1.29%)
Spread: 0.20 (0.045%)
Open: 449.30
High: 450.30
Low: 443.80
Prev. Close: 451.00
RR. Live PriceLast checked at -

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PRESS: Rolls-Royce set to axe 2,500 jobs in cost-cutting drive - Sky

Mon, 16th Oct 2023 21:42

(Alliance News) - 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.

By Jeremy Cutler, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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