The British aircraft maker Rolls-Royce Holdings announced on Tuesday that it is planning to streamline its business and axe about 6% of the company’s employees under Chief Executive Officer Tufan Erginbilgic.
Rolls-Royce Holdings Plc said it’s cutting as many as 2,500 employees across the globe in a statement. “It is estimated that 2,000-2,500 roles will be removed globally” under “plans for a simpler, more streamlined, organisation”, the statement said.
Rolls-Royce to create simpler, more efficient and effective organisation to continue to deliver world class products https://t.co/RLNZg63LoH pic.twitter.com/umGheMlm1P
— Rolls-Royce Press (@RollsRoycePress) October 17, 2023
As part of the corporate overhaul, Chief Technology Officer Grazia Vittadini will leave the company in April next year, Rolls-Royce added.
Chief Executive Officer Tufan Erginbilgic took office at the beginning of this year and has already made a few switches in key management positions, including the head of the civil engine subsidiary, as per media reports.
“This is another step on our multi-year transformation journey to build a high-performing, competitive, resilient and growing Rolls-Royce,” the CEO said in the release.
According to the statement released by the company said that the latest restructuring would “help Rolls-Royce build enhanced capabilities in key areas such as procurement and supply chain management, ensuring they are as strong as the company’s engineering and technical excellence”
While Warren East was the CEO of Rolls-Royce, more than 9000 jobs were axed and he launched a major divestment programme in 2020 in response to the damaging pandemic fallout across the aviation industry.
With Erginbilgic as the new boss, the cash flow in the company has risen rapidly this year. The company on the in August posted a first-half net profit which totals to £1.2 billion ($1.5 billion), compared with a loss after tax of £1.6 billion a year earlier.
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