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Rolls-Royce to cut some 9,000 aerospace jobs due to virus, decline in air travel

Business Finance

AP  |  London 

Aerospace engine maker Rolls-Royce has announced plans to cut some 9,000 jobs globally as it grapples with the collapse in air travel due to the COVID-19 pandemic.

The company employs 52,000 people overall, and it is not immediately clear where the cuts will fall.

The reorganization will lead to cuts resulting in some 700 million pounds ($856 million) in savings with an overall aim of 1.3 billion pounds in annual savings.

Chief executive Warren East says the company must take difficult decisions to see our business through these unprecedented times.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, May 20 2020. 16:48 IST