Rolls Royce is to cut 9,000 jobs from its workforce as the aerospace giant navigates the economic fallout from the coronavirus pandemic.
The job losses will affect the company’s civil aerospace business, plus its central support functions, and could result result in £700 million in savings, Rolls Royce said.
The firm is targeting an annual cost savings of £1.3bn.
It said it will also cut spending across its plant, property and other areas to strengthen its finances.
Chief executive Warren East said: “This is not a crisis of our making. But it is the crisis that we face and we must deal with it.
“Our airline customers and airframe partners are having to adapt and so must we.
“Being told that there is no longer a job for you is a terrible prospect and it is especially hard when all of us take so much pride in working for Rolls-Royce.
“But we must take difficult decisions to see our business through these unprecedented times.”