By Tony Winterburn • 07 February 2021 • 19:43
Rolls Royce To Shut Its Civil Aerospace Unit Down For Two Weeks To Save Costs. image: Pixabay
Rolls Royce To Shut Its Civil Aerospace Unit Down For Two Weeks Over The Summer To Save Costs.
ROLLS ROYCE is proposing a two-week operational shutdown of its civil aerospace unit over the summer as it manages costs due to the impact of the COVID-19 pandemic, the company announced today, Sunday. The aero-engine maker has begun talks with unions on the shutdown and cost-cutting at its civil aerospace unit, it said in an emailed statement.
The measures will affect 19,000 civil aerospace workers, including 12,500 in the U.K., according to a Rolls-Royce spokesperson. The engine maker plans to ease the financial pain for affected employees by spreading their losses in pay across the year instead of over a single two-week period.
It wasn’t immediately clear whether the shutdown would be limited to the U.K. Rolls-Royce employed 51,700 people worldwide at the end of 2019, according to its most recent annual report.
“As we continue to manage our cost base in response to the ongoing impact of the COVID-19 pandemic on the whole commercial aviation sector, we are proposing a two-week operational shutdown of Civil Aerospace over the Summer,” it said.
Rolls-Royce’s finances have been greatly hit by the COVID-19 crisis as its airline customers have grounded planes. It warned last month that travel would be even more constrained than expected this year, leading to increased cash outflow.
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