Rolls-Royce, the British manufacturer of aircraft engines, said Tuesday it plans to axe up to 2,500 jobs worldwide, or about six percent of its staff.
"It is estimated that 2,000-2,500 roles will be removed globally" under "plans for a simpler, more streamlined, organisation", the group said in a statement.
Chief executive Tufan Erginbilgic, who began restructuring the group on taking the helm at the start of the year, said the company was "building a Rolls-Royce that is fit for the future.
"That means a more... efficient organisation that will deliver for our customers, partners and shareholders."
The statement said the latest restructuring would "help Rolls-Royce build enhanced capabilities in key areas such as procurement and supply chain management, ensuring they are as strong as the company's engineering and technical excellence".
Previous CEO Warren East had axed more than 9,000 jobs and launched a major divestment programme in 2020 to navigate damaging pandemic fallout across the aviation industry.
In a quick turnaround under its new boss, Rolls in August posted first-half net profit totalling £1.2 billion ($1.5 billion), compared with a loss after tax of £1.6 billion a year earlier.
Erginbilgic, a dual UK and Turkish national, worked for more than 20 years at energy major BP.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
Featured Video Of The Day
Homeless Black Man, Carrying Knives, Shot Dead By Cops Outside Republican Event
Ex Rolls-Royce Head Designer Stabbed To Death In $3 Million Germany Mansion Watch: Rolls-Royce Ghost Breaks Down On Flooded Delhi Road, Internet Says "Use Alto'' License Plate Error Found In Rolls-Royce Ridden By Eknath Shinde, D Fadnavis 4 Top Leaders Quit Ajit Pawar's Party In Major Setback After Poll Drubbing Karnataka's 100% Quota Bill For Kannadigas In Private Firms For These Posts 13 Indians Among 16 Crew Members Missing After Oil Tanker Capsizes Off Oman Temple Trust Reacts To Shankaracharya's Kedarnath Gold Theft Claim 600 Jobs, 25,000 Seekers: Air India Drive Sets Off Stampede Fear In Mumbai Trump's Running Mate Stirs Row With "Islamist" Nuclear State Jibe At UK Track Latest News Live on NDTV.com and get news updates from India and around the world.