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Rolls-Royce to cut up to 2,500 jobs in latest efficiency drive, ETHRWorld


hr.economictimes.indiatimes.com | www.ETHRWorld.com

<p>Tufan Erginbilgic, who took over in January, is the latest CEO to try to tackle the company's inefficiencies. Rolls has long trailed the margins made by General Electric, its main competitor in the widebody aircraft sector</p>
Tufan Erginbilgic, who took over in January, is the latest CEO to try to tackle the company’s inefficiencies. Rolls has long trailed the margins made by General Electric, its main competitor in the widebody aircraft sector

By Sarah Young

LONDON: Rolls-Royce said on Tuesday it would cut up to 2,500 jobs as its new chief executive seeks to build a more efficient business, the latest boss to attempt to revamp one of Britain’s most prestigious engineering companies.

Over the last decade, Rolls-Royce, whose engines and systems are used on the Airbus A350 and Boeing 787 as well as ships, submarines and in power generation, has been through several restructurings, axing more than 13,000 jobs.

Tufan Erginbilgic, who took over in January, is the latest CEO to try to tackle the company’s inefficiencies. Rolls has long trailed the margins made by General Electric, its main competitor in the widebody aircraft sector.

In July, his operational improvements helped prompt a profits upgrade and he said there would be more to come.

On Tuesday the company said it planned to shed up to 2,500 roles out of its total staff of 42,000.

“This is another step on our multi-year transformation journey to build a high performing, competitive, resilient and growing Rolls-Royce,” he said.

The bounceback in long-haul flying this year plus Erginbilgic’s strategy has sent the stock soaring more than 130% this year.

The shares traded up 2% to 217.70 pence in…


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