COVID-19: Rolls-Royce to Cut 9,000 Jobs

COVID-19: Rolls-Royce to Cut 9,000 Jobs 2

Rolls-Royce is expected to cut nearly fifth of its workforce in an attempt to survive the collapse in global aircraft demand caused by the coronavirus pandemic, which is expected to last for several years. The aero engine maker is making deeper than expected cuts of at least 9,000 jobs out of a global workforce of 52,000 jobs, in the biggest single reduction in headcount in 30 years. Rolls-Royce’s radical restructuring, first reported by the Financial Times earlier this month, could include factory closures and is expected to deliver savings of £1.3bn. Warren East, chief executive, said the group was discussing tapping the government’s short-term emergency loan facility to deal with short-term issues. But he insisted “we have enough liquidity at the moment”.

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