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Coronavirus : Aircraft Engine Maker, Rolls-Royce, Is Cutting 9,000 Jobs Due To Low Flight Demand
Aircraft Engine maker, Rolls-Royce, which makes engines for Boeing and Airbus planes, is cutting 9,000 jobs due to Coronavirus Pandemic
Rolls-Royce said it will take several years for commercial aerospace market to return to the levels seen few months ago.
Rolls-Royce, which makes engines for Boeing and Airbus planes, is cutting 9,000 jobs due to Coronavirus Pandemic.
Aircraft engine maker, Rolls-Royce, is set to cut at least 9,000 jobs because of the collapse in demand for air travel caused by the coronavirus pandemic. The job cut is almost a fifth of its total workforce.
In a statement on released on Wednesday, the company said :
“We are proposing a major reorganization of our business to adapt to the new level of demand we are seeing from customers,”
“As a result, we expect the loss of at least 9,000 roles from our global workforce of 52,000.”
Rolls-Royce CEO Warren East said on Wednesday that its civil aerospace business will bear the brunt of the restructuring.
The division accounted for more than half the group’s revenue in 2019.
“We haven’t completely concluded on exactly where the job losses will be because we have to consult with our unions. But it’s fair to say that of our civil aerospace business, approximately two thirds of the total employees are in the UK at the moment,”
The company said it will take several years for commercial aerospace market to return to the levels seen few months ago.
Rolls-Royce, which makes engines for Boeing and Airbus planes, said it needed to adjust its capacity to meet the reduced demand.
