Rolls Royce layoff: British engine maker likely to cut 3000 jobs?

After tech and consulting firms, prominent provider of engines - Rolls Royce is now planning to sack employees.

According to a report by The Sunday Times, Rolls Royce is planning to slash thousands of jobs, around 3,000 'non-manufacturing employees', as it aims to cut costs and and streamline operations.

The report further added that the company has also reportedly hired consultants from McKinsey & Co. to help it in planning and executing these layoffs.

Meanwhile, a spokesperson from Rolls-Royce told Reuters that no decisions had been made regarding any potential impact on employees. They emphasized that the claims of layoffs were baseless and purely speculative.

Tufan Erginbilgic, the chief executive of Rolls-Royce in January, has said Rolls-Royce, which provides engines for Airbus A350 and Boeing 787 planes, is a "burning platform" which needs to improve its cash generation, cut debt and invest for the future.