More jobs gone in tbe aero space industry20 May 2020 10:51
Aerospace giant Rolls-Royce (RR.L) said it plans to cut at least 9,000 jobs, following the huge impact the coronavirus pandemic has had on the aviation industry.
It confirmed in a statement of its “major reorganisation” of the group that it expects the job losses from its global workforce of 52,000 to help it adapt to a fall in demand from airlines.
The cuts are forecasted to save the company £700m ($856m), helping it towards its overall aim to save £1.3bn annually. The group also said it will also cut spending across plant and property, capital and “other indirect cost areas.”
"This is not a crisis of our making. But it is the crisis that we face and we must deal with it. Our airline customers and airframe partners are having to adapt and so must we. Being told that there is no longer a job for you is a terrible prospect and it is especially hard when all of us take so much pride in working for Rolls-Royce,” said Warren East, CEO of Rolls-Royce.