ROLLS ROYCE - bad news16 Oct 2023 23:08
Rolls-Royce Holdings PLC's new Chief Executive Officer (CEO) Tufan Erginbilgic is planning to cut about 2,500 job posts in an effort to reduce the aerospace and defense company's costs, Sky News reported on Monday.
According to people familiar with the matter, the decision will affect Rolls-Royce's departments around the entire world, not just in the United Kingdom. However, reportedly, hundreds of those cuts will be made in Britain.
The sources added that the world's second-largest aircraft engine maker informed the UK government of its decision, as per an earlier agreement.
Baha Breaking News (BBN) / JR