Rolls-Royce announces reorganisation
This morning Rolls-Royce has announced details of a major reorganisation proposal to address the impact of COVID-19, including the loss of at least 9,000 jobs and cuts to expenditure across plant and property, capital and other areas.
The reorganisation will predominantly affect the company’s civil aerospace business – the UK and US defence business will not be affected by headcount reductions.
Commenting on the published plans, ADS Chief Executive Paul Everitt said:
“This signals a very difficult period for Rolls-Royce, its employees and its extensive UK supply chain.
“The crisis is having a major impact on aerospace companies who provide high value, long-term jobs in all regions and nations of the UK, putting thousands more jobs at risk now and in the months ahead.
“To minimise the impact on jobs and manufacturing capability in the long-term we need urgent action by Government.
“The UK must lead the re-opening of international aviation, put in place additional public support for development of new low carbon technologies, bring forward major defence and space programmes and establish long-term funding mechanisms to help our supply chain survive and prosper as growth returns to the sector.”