A major car maker has axed 2,500 jobs in a bid to save money – with hundreds of UK-based workers at risk.
The Derby-based firm’s is said to be making cuts across its global operations, Sky News reports.
Hundreds of staff based in the UK are likely to be among those affected.
Chief executive Tufan Erginbilgic is reportedly aiming to reduce duplication and cut costs across the company’s global operations.
He has previously described the firm as “a burning platform”, adding that one of its subsidiaries had been “grossly mismanaged”.
It comes as Rolls-Royce has seen business soar as travellers have returned to the skies following the pandemic woes.
Pre-tax profits for six months were £1.4billion — compared to a drastic £125million loss a year ago. underlying profit was £673million.
Large engine flying hours are up by more than a third compared to a year ago and are now back to 83 per cent of pre-pandemic 2019 levels.
That helped Rolls receive 240 large engine orders in the half-year, up from just 96 the previous year.
Boss Erginbilgic launched the turnaround programme when he took over as chief executive at the start of the year.
He said the plan “started well with progress already evident in our strong initial results and increased full year guidance for 2023”.
https://www.thesun.co.uk/motors/24424679/major-car-maker-jobs-cash-uk-workers/ Major car maker axes 2,500 jobs in bid to save cash with hundreds of UK workers at risk