UK defence and aerospace group Rolls-Royce has confirmed that a “fundamental restructuring” that is intended to lead to a “simpler, leaner and more agile organisation” will result in the loss of up to 4,600 jobs.
The cuts will result in the loss of almost 10% of the group’s 50,000 strong workforce with the bulk of cuts – reportedly up to 3,000 positions – lost within the UK.
Rolls-Royce said it expects cost savings of up to GBP400 million (USD537 million) per annum from 2020, with an estimated restructuring cost of GBP500 million.
The job cuts will result from executing a restructuring plan announced at the start of 2018.
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