British aircraft engine builder Rolls-Royce will cut at least 9,000 jobs because of the corona crisis and the avalanche slump from the virus outbreak. Due to the crisis, the demand for new aircraft has plummeted and Rolls-Royce is suffering a lot from this.
Around 52,000 people work for Rolls-Royce worldwide. The plan is to cut annual costs by £ 1.3 billion through the intervention. Restructuring costs are estimated at £ 800 million. Sources at the company had previously hinted that significant job losses were imminent.
Rolls-Royce supplies engines to Airbus and Boeing aircraft that are scaling back production due to the crisis.