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The battle for air
Rolls-Royce’s aircraft engine division plans to cut its workforce by 15 percent, sources told the Financial Times.
Rolls-Royce does not escape recession in the airline industry. It plans to cut 8,000 jobs in the company’s aircraft engine department.
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Pascal Rossignol / X00234
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With significantly reduced international air traffic, Boeing and Airbus, among others, have laid off employees.
So far, the two producers have cut production by 35 to 50 percent, writes the Financial Times. Boeing recently announced plans to cut 10 percent of the workforce, equivalent to 16,000 jobs.
Rolls-Royce, which in addition to its luxury cars is a major manufacturer of aircraft engines, does the same. According to sources like the Financial Times and Bloomberg, the company now plans to cut 15 percent of the workforce.
With 52,000 employees, this equates to approximately 8,000 jobs, and will be the company’s largest job reduction in more than 30 years.
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– We have taken swift steps to increase our liquidity, dramatically reduce our spending in 2020, and strengthen our resilience during these exceptionally challenging times. But we must take more steps, the company writes in a statement on Friday.
A final decision is not expected until the end of May.
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