Rolls-Royce cuts 9,000 jobs in response to "unprecedented" COVID-19 crisis – Chine.org

By :| Keywords : Rolls-Royce-jobs-COVID-19
French.china.org.cn | Updated on 05-21-2020

The British engineering firm Rolls-Royce unveiled a major reorganization plan on Wednesday to adapt to falling demand in the context of the COVID-19 pandemic, which includes the loss of 9,000 jobs worldwide.

The numerous cuts, which will affect almost a fifth of the company's employees worldwide, are expected to save the company about £ 700 million (or $ 858 million).

The impact of the COVID-19 pandemic on Rolls-Royce and the entire aeronautical industry is "unprecedented". According to the company, activity on the commercial aerospace market will take "several years" to return to its pre-crisis level.

The job losses come as the British labor market was hit hard by the new coronavirus crisis, with a monthly increase of 69.1% in the number of people claiming unemployment benefits in April.

In addition to the drastic reduction in its workforce, the engine manufacturer also plans to reduce its spending on factories, properties, capital and other indirect expenditure items in order to generate total savings of more than 1 £ 3 billion (about $ 1.6 billion) per year.

"Governments around the world are doing what they can to help businesses in the short term, but we need to respond to market conditions in the medium term until the aviation world returns to normal, and governments cannot replace a lasting consumer demand that is simply no longer there, "said Warren East, CEO of Rolls-Royce.

Rolls-Royce is a supplier of propulsion systems and a major global aerospace power. China is one of its main strategic markets, an essential center of its supply chain and one of its production bases. In 2019, nearly 10% of its annual revenue was generated by its civil aerospace and propulsion systems companies in the Chinese market, according to the Chinese branch of Rolls-Royce. F

<! – enpproperty 760692542020-05-21 00: 14: 05: 924Rolls-Royce cuts 9,000 jobs in response to "unprecedented" COVID-19 crisisRolls-Royce-jobs-COVID-1910027176468NewsNewshttp://french.china.org.cn/foreign/txt/2020-05/21/content_76069254.htmnullXinhua News AgencyThe British engineering company Rolls-Royce unveiled a major reorganization plan on Wednesday to adapt to falling demand in the context of the COVID-19 pandemic, which includes the loss of 9,000 jobs worldwide.1/ enpproperty ->



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