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Rolls-Royce to cut 4,600 jobs to save 400 million pounds a year

Reuters  |  LONDON 

LONDON (Reuters) - Britain's Rolls-Royce said it would cut 4,600 jobs primarily in the UK as part of a plan to simplify its business and save 400 million pounds ($536 million) a year by the end of 2020.The engineering company said the job cuts and overhaul of its business would cost it 500 million pounds and be spread across 2018, 2019 and 2020. It will be reported as separate one-off costs, allowing it to stick to its targets for free cash flow."These changes will help us deliver over the mid and longer-term a level of free cash flow well beyond our near-term ambition of around 1 billion ...

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First Published: Thu, June 14 2018. 11:55 IST
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