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Rolls-Royce warns of ‘significant’ UK hit as 9,000 jobs are cut

Rolls-Royce warns of ‘significant’ UK hit as 9,000 jobs are cut

Business
Rolls-Royce has announced plans to cut 9,000 jobs - almost a fifth of its global workforce - as the coronavirus crisis takes a heavy toll on aviation.The engine-maker told Sky News it would result in a "significant" hit to employment within the UK but refused to put a number on the impact or say where the axe would fall. In an interview on Ian King Live, chief executive Warren East said he could not rule out site closures under a review being carried out by the company to help it navigate the downturn caused by COVID-19 that has grounded most of the world's airlines. ...
Rolls-Royce plans mini nuclear reactors by 2029

Rolls-Royce plans mini nuclear reactors by 2029

Science
Mini nuclear reactors could be generating power in the UK by the end of the decade.Manufacturer Rolls-Royce has told the BBC's Today programme that it plans to install and operate factory-built power stations by 2029.Mini nuclear stations can be mass manufactured and delivered in chunks on the back of a lorry, which makes costs more predictable.But opponents say the UK should quit nuclear power altogether.They say the country should concentrate on cheaper renewable energy instead.Environmentalists are divided over nuclear power, with some maintaining it is dangerous and expensive, while others say that to achieve net zero emissions by 2050 all technologies are needed.However, the industry is confident that mini reactors can compete on price with low-cost ...

Fraud office narrows Rolls-Royce corruption probe

Business
[unable to retrieve full-text content]The Serious Fraud Office (SFO) has dropped its probe into a number of former Rolls-Royce Holdings employees amid pressure to conclude a wide-ranging bribery and corruption inquiry launched more than six years ago. Business News - Markets reports and financial news from Sky
Rolls-Royce boss says May's Brexit deal is better than no deal

Rolls-Royce boss says May's Brexit deal is better than no deal

Business
Politicians must get behind a "practical plan" for Brexit, the boss of engineering giant Rolls-Royce has said.Warren East said time was running out and that any deal was better than leaving the EU without an agreement.Rolls-Royce employs 22,300 people in the UK making aerospace, marine and submarine engines.Mr East joined other business leaders in backing the draft plan put forward by Theresa May on Wednesday."The time since the referendum seems to have gone remarkably quickly and we're essentially [still] having a discussion we could have had the morning after the referendum," he told BBC Radio 4's Today programme. "We are slightly running out of time and I would, as a business leader, like to see politicians on both sides of th...
4,600 jobs to go at jet engine maker Rolls-Royce

4,600 jobs to go at jet engine maker Rolls-Royce

Business
Rolls-Royce is to cut 4,600 managerial and support jobs as the jet engine maker introduces its latest restructuring plan.  Most of the jobs will be axed in the UK, where the FTSE 100 company employs 23,000 out of a global workforce of 50,000.A third of the jobs are expected to go by the end of this year and the rest by the middle of 2020.Rolls-Royce chief executive Warren East signalled the move in March as the company battled to keep to its financial targets and amid problems with its Trent 1000 engines.It has replaced the fan blades on turbines powering Boeing 787 airplanes after cracks and corrosion were found on jets operated by Japan's ANA airline.Mr East said: "It is never an easy decision to reduce our workforce, but we must create a commercial organisation that...