LONDON (dpa-AFX) - British Aerospace & Defense company Rolls-Royce Holdings plc (RYCEF.PK, RYCEY.PK, RR.L) announced Tuesday its plan to create a simpler, more efficient and effective organisation in the next phase of its multi-year transformation. The plan includes various cost saving efforts, including up to 2,500 job cuts.
The new structure is expected to create a more agile business, which will help it build enhanced capabilities in key areas such as procurement and supply chain management.
The company expects the proposed changes to remove duplication and deliver cost efficiencies. It is estimated that 2,000-2,500 roles will be removed globally. Rolls-Royce currently employs 42,000 people worldwide.
Under the changes, Engineering Technology & Safety will come together as a single team across the Group, responsible for product safety, engineering standards, process, methods and tools. The division will be led by Simon Burr, currently Director - Product Development and Technology, Civil Aerospace, who is joining the Executive Team with immediate effect.
Grazia Vittadini, Chief Technology Officer, will be leaving the business in April 2024.
Further, the company will create a new enterprise-wide procurement and supplier management organisation. It will support the consolidation of group spend, leverage scale and develop consistent best in class standards.
The company added that enabling functions, such as Finance, General Counsel and People will also be brought together across Rolls-Royce.
Copyright(c) 2023 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2023 AFX News
