FTimes - Xinhua Report, Nov. 05
This file photo taken on July 19, 2006 shows a visitor looking at a Rolls Royce Trent 900 jet engine which is used on the Airbus A380-800 and A380F at the Farnborough Air Show. Australian officials probing a Qantas A380 engine blast last month reported a "critical safety issue" with the Rolls-Royce unit on December 2, 2010 that they said could lead to "catastrophic engine failure". Photo AFP-Lehtikuva.
Rolls-Royce Holdings plc, a Britain-based engineering group, Tuesday announced that it is planning to eliminate 2,600 jobs over the next 18 months.
The majority of the jobs reduction will be achieved in 2015, and around half of the cost of the job cuts will be accrued this year, subject to consultation with employees, said Rolls-Royce.
John Rishton, Chief Executive Officer of Rolls-Royce, said: " We are taking determined management action and accelerating our progress on cost. The measures announced today will not be the last, however they will contribute towards Rolls-Royce becoming a stronger and more profitable company."
"We will work closely with employees and their representatives to achieve the necessary reductions on a voluntary basis where possible, while making sure we retain the skills needed for the future," he said.
Last month, the second-biggest maker of aircraft engines warned that its underlying revenues for this year would be 3.5 percent to 4 percent lower than the previous expectation.
