Rolls-Royce cutting up to 2,500 jobs to improve efficiency
Company employs 6K Americans across 27 states
Rolls-Royce is reducing its global staff to create a more efficient business, the company said on Tuesday.
The company, which employs 42,000 people worldwide including more than 6,000 Americans working across 27 states, said the job cuts would impact 2,000 to 2,500 employees globally.
ROLLS-ROYCE SECURES FUNDING TO DEVELOP LUNAR NUCLEAR REACTOR
The new business structure will be better able to serve customers, according to Rolls-Royce.
Rolls-Royce Trent XWB engines, designed specifically for the Airbus A350 family of aircraft, are seen on the assembly line at the Rolls-Royce factory in Derby, England. (REUTERS/Paul Ellis/Pool / Reuters Photos)
"Our business is full of committed, talented people and I believe these changes will enable them to build greater capability in areas that are key to our long-term success," Rolls-Royce CEO Tufan Erginbilgic said. "We are building a Rolls-Royce that is fit for the future. That means a more streamlined and efficient organization that will deliver for our customers, partners and shareholders."
MICROSOFT'S LINKEDIN LAYING OFF NEARLY 700 WORKERS
The company also hopes the staff reductions will improve procurement and supply chain management while delivering savings and customer service improvements.
Over the last decade, Rolls-Royce, whose engines and systems are used on the Airbus A350 and Boeing 787 as well as ships, submarines and in power generation, has been through several restructurings, axing more than 13,000 jobs.
Other customers include the U.S. Department of Defense, commercial airlines, regional airlines, and business jet and helicopter operators.
A Boeing 787-10 Dreamliner taxis past the Final Assembly Building at Boeing South Carolina in North Charleston, South Carolina, on March 31, 2017. (REUTERS/Randall Hill/File Photo / Reuters)
FORD RECALLING MORE THAN 238K EXPLORERS OVER DRIVESHAFT ISSUES
Rolls-Royce has invested nearly $1 billion in research and development in the U.S. since 2013 and has worked with institutions like Purdue University, the University of Virginia and Virginia Tech.
Could we see an ugly turn of events in the jobs market?
FreedomWorks senior economist Steve Moore provides insight on the state of the economy on 'Making Money.'
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Reuters contributed to this report.