The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture For Transport Equipment Manufacture Of Other Transport Equipment 30.9 - Manufacture of transport equipment n.e.c.
200 jobs Number of planned job losses
Announcement Date
18 September 2016
Employment effect (start)
Foreseen end date
Description
Rolls Royce, the engineering company that has cut nearly 4000 jobs over the last two years, is to cut a further 200 roles in management. 60 will be based in Norway, there will be cuts at the operations in Derby, UK, and the offices in the USA are also likely to be affected. This fits in to a wide-ranging restructuring instigated by new chief executive Warren East, and will largely affect roles in middle management. The majority will come in the company's aircraft engine business, which has already seen its headcount decrease by around 2600, as Rolls Royce attempt to achieve savings of £150-200 million by late 2017. Rolls Royce has seen sales, demand, and profit all fall, and the poorly-performing oil and gas markets are also having a negative business effect.
Sources
18 September 2016: Financial Times
18 September 2016: Wall Street Journal
19 September 2016: Derby Telegraph
Citation
Eurofound (2016), Rolls Royce, Internal restructuring in World, factsheet number 88624, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/88624.
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