Rolls-Royce may cut thousands of jobs in turnaround plan

Rolls-Royce Holdings Plc could cut thousands of jobs after the company hired consultants led by McKinsey & Co to advice on streamlining its operations, The Times reported.

Part of the turnaround plan will see the combination of non-manufacturing departments in each of the company's civil aerospace, defence and power systems divisions, the newspaper said, citing an unidentified consultancy source. As a result, 10% of around 30,000 jobs in these departments could be eliminated, the report said.
The company's headquarters in Derby are likely to be hit hardest by the cuts, The Times said. Rolls-Royce said that a decision had yet to be made regarding its workforce. "We are working at pace on our transformation across a number of work streams and only one part of one of those work streams is about realizing organisational efficiencies," a spokesperson said in an emailed comment.