Rolls-Royce axes 2,500 jobs in bid to save cash with hundreds of UK workers at risk

ROLLS-Royce has axed 2,500 jobs in a bid to save money - with hundreds of UK-based workers at risk.

Rolls-Royce Holdings, the aircraft engine manufacturing arm of the car giant, is understood to be cutting jobs as part of a cost-saving drive.

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The Derby-based firm's is said to be making cuts across its global operations, reports.

Hundreds of staff based in the UK are likely to be among those affected.

Tufan Erginbilgic, who was appointed as chief executive in January, said the shake-up will make the Derby-based engineering giant "a more streamlined and efficient" business.

The aerospace engineering giant, which employs 42,000 people, said it also plans to remove "duplication".

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Mr Erginbilgic said: ";We are building a Rolls-Royce that is fit for the future.

"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.

"This is another step on our multi-year transformation journey to build a high-performing, competitive, resilient and growing Rolls-Royce."

It comes as Rolls-Royce has seen business soar as travellers have returned to the skies following the pandemic woes.

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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”.

But he added: "There is more to do to deliver better performance and to transform Rolls-Royce into a high performing, competitive, resilient, and growing business."