Layoff 2023: Rolls-Royce to cut jobs across entire business

Rolls-Royce Layoffs 2023: Rolls-Royce Holdings, the renowned aircraft engine manufacturer, is set to eliminate over 2,000 jobs as part of a cost-cutting initiative led by its recently appointed CEO.

As per reports from Sky News, the company, headquartered in Derby, is expected to unveil plans to reduce its workforce by approximately 2,500 employees as early as Tuesday. These staff reductions will be implemented globally and are likely to impact a significant number of employees in the UK, as per sources familiar with the matter.

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The restructuring, particularly in non-engineering roles, has been anticipated for several months and represents one of the most substantial measures taken under the leadership of Tufan Erginbilgic, who assumed the role of CEO at Rolls-Royce at the beginning of the year.

Erginbilgic's commitment to cost reduction and streamlining operations has garnered favor among City analysts and investors, who see significant opportunities for improving the company's overall efficiency.

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Since his appointment, Mr. Erginbilgic has candidly referred to the company as a "burning platform" and highlighted significant mismanagement within one of its key subsidiaries, solidifying his reputation as a straightforward executive.

In adherence to legal requirements pertaining to job cuts, officials in Whitehall were reportedly briefed on the latest redundancy plans on Monday evening.