Rolls-Royce Chief Executive Officer Turfan Erginbilgic has initiated a transformation program at the manufacturer, including some key management changes. Rolls-Royce Holdings Plc could cut thousands of jobs after the company hired consultants led by McKinsey & Co. to advise on streamlining its operations, The Times reported. Part of the turnaround plan will see the combination of non-manufacturing departments in each of the company’s civil aerospace, defense and power systems divisions, the newspaper said, citing an unidentified consultancy source. As a result, 10% of around 30,000 jobs in these departments could be eliminated, the report said. The company’s headquarters in Derby are likely to be hit hardest by the cuts, The Times said, noting that most of its back-office administration functions are based in the city. Rolls-Royce said that a decision had yet to be made regarding its workforce. “We are working at pace on our transformation across a number of work streams and only one part of one of those work streams is about realizing organizational efficiencies,” a spokesperson said in an emailed comment. “We have made no decisions whatsoever on any potential impact on employees and any suggestion otherwise is pure speculation.” Rolls-Royce Chief Executive Officer Turfan Erginbilgic has initiated a transformation program at the manufacturer, including some key management changes. The global aviation industry is struggling with output amid a lack of spare parts and skilled labor, coupled with disruptions stemming from sanctions against Russia, which supplies components like titanium for aircraft engines.
Initiatives
- Excellence Iconic Awards: Celebrating Remarkable Achievements.
- Logitech MX Keys S Combo Hosts Rare Innovation In a Computer Keyboard And Mouse
- India For ‘De-Dollarizing’ Trade With More Nations
- Amazon Most Favored E-Commerce Platform; Tier II Cities Online Savvy: Survey
- Financial Matters In Focus: 5 Key Deadlines And Changes In July To Keep An Eye On
- HDFC Vaults Into Ranks of World’s Most Valuable Banks After This Merger
- Gold, Silver Prices in India: Check Latest Rates of Your City On June 27
- ‘Can Say Very Clearly That…’: RBI Governor Das On Withdrawal of ₹2000 Notes
- Closing Bell: Sensex Slips 284 Points To 63,239, Nifty Drops to 18,771
- Closing Bell: After Reaching All-Time High, Sensex Settles At 63,523, Nifty at Over 18,850