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Rolls Royce to cut workforce worldwide

  Engine maker Rolls Royce will cut between 1,500 and 2,000 jobs worldwide next year, or about 4% of its workforce, as it responds to the global economic slowdown and resulting delays to projects.

 

The company, which employs about 39,000 people globally, said on Thursday it was already consulting employee representatives about cutting 140 jobs at its assembly and test facility in Derby. Rolls Royce said the proposals would have no effect on the group’s 2008 financial guidance and that the cost of cuts in 2009 should be balanced by savings achieved during the course of the year.

“We are determined to maintain our focus on cost reduction and competitiveness as the world economy enters a challenging period,” CEO John Rose said in a statement. “It is too early to determine the precise effects of the global economic downturn and program delays.” (Reuters)