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Rolls-Royce set to cut 2,300 jobs Rolls-Royce set to cut 2,300 jobs
(10 minutes later)
Rolls-Royce says it plans to cut up to 2,300 jobs to reduce costs and improve efficiency as it copes with high raw material prices and a weak dollar. Engineering firm Rolls-Royce says it plans to cut up to 2,300 jobs to reduce costs and improve efficiency.
The job losses come as the firm struggles with high raw material prices and a weak dollar.
The cuts will affect the company's operations in the UK, US, Germany and the Nordic countries, the firm said.The cuts will affect the company's operations in the UK, US, Germany and the Nordic countries, the firm said.
Managerial, professional and clerical staff will bear the brunt of the job losses. The losses will come among managerial, professional and clerical staff. The firm employs about 39,500 people in 50 countries, with 23,300 in the UK.
Rolls-Royce employs about 39,500 people in 50 countries, with about 23,300 employed in the UK. Rolls-Royce declined to say how many jobs would be lost in the UK, but it said it would try to make the cuts through voluntary redundancies.
"We are determined to create a leaner and more agile support structure, better suited to the global markets in which we operate," said Mike Terrett, Rolls-Royce's chief operating officer.
"These actions will also help the group to mitigate external headwinds such as increasing raw material costs and the weak dollar," the firm said.