Rolls-Royce to Cut 2,000-2,500 Jobs Globally in Strategic Overhaul
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Rolls-Royce to Cut 2,000-2,500 Jobs Globally in Strategic Overhaul

By Ian Walker
Wed, Oct 18, 2023 9:53amGrey Clock 2 min

Rolls-Royce Holdings is set to cut 2,000-2,500 jobs worldwide as part of a transformation program and strategy review.

The U.K.-based aircraft engine manufacturer, which outlined the review plan in January, said Tuesday that the new structure will create a more agile business better able to serve customers, deliver cost efficiencies, and help it improve its capabilities in areas such as procurement and supply-chain management.

“This is another step on our multiyear transformation journey to build a high performing, competitive, resilient and growing Rolls-Royce,” Chief Executive Tufan Erginbilgic said.

The engineering technology and safety teams will be merged into a single team, responsible for product safety, engineering standards, process, methods and tools. The combined team will be led by Simon Burr, currently director of product development and technology for civil aerospace, who will join the executive team with immediate effect. Enabling functions, like finance, general counsel and people teams will also be brought together.

Chief Technology Officer Grazia Vittadini will leave the company in April.

Other proposals include creating a new enterprise-wide procurement and supplier management organisation, supporting group spend consolidation, leveraging scale and developing consistent standards. As well as savings, a greater focus on these areas will lead to customer service improvements, reducing supply-chain delays.

Rolls-Royce currently employs 42,000 people worldwide.

In an interview with the Wall Street Journal in May, Erginbilgic said that his first goal was to pay down debt and generate cash to restore Rolls-Royce’s investment-grade rating—lost at the start of the pandemic. He said then he also wants to be able to reinstall payments to shareholders, that Rolls-Royce suspended in 2020.

“In every division of the group we are underperforming versus the competition,” Erginbilgic told the Journal then. “That is to me a turnaround case.”

Erginbilgic, a former oil-industry executive, took over as chief executive of Rolls-Royce Holdings in January.

On Aug. 3 Rolls-Royce reported a pretax profit for the six months ended June 30 of 1.42 billion pounds ($1.73 billion), compared with a loss of GBP1.75 billion a year earlier.

Underlying operating profit—a key metric for the company that strips out exceptional and other one-off items—was GBP673 million, up from GBP125 million.

Rolls-Royce’s latest guidance for 2023 is for an underlying operating profit of between GBP1.2 billion and GBP1.4 billion. It expects 400 to 500 total engine deliveries for the year.



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The personal wardrobe of the late fashion designer Vivienne Westwood, who is credited for introducing punk to fashion and further developing the style, is headed to auction in June.

Christie’s will hold the live sale in London on June 25, while some of the pieces will be available in an online auction from June 14-28, according to a news release from the auction house on Monday.

Andreas Kronthaler, Westwood’s husband and the creative director for her eponymous fashion company, selected the clothing, jewellery, and accessories for the sale, and the auction will benefit charitable organisations The Vivienne Foundation, Amnesty International, and Médecins Sans Frontières.

The more than 200 lots span four decades of Westwood’s fashion, dating to Autumn/Winter 1983-84, which was one of Westwood’s earliest collections. Titled “Witches,” the collection was inspired by witchcraft as well as Keith Haring’s “graphic code of magic symbols,” and the earliest piece being offered from it is a two-piece ensemble made of navy blue serge, according to the release.

“Vivienne Westwood’s sense of activism, art and style is embedded in each and every piece that she created,” said Adrian Hume-Sayer, the head of sale and director of Private & Iconic Collections at Christie’s.

A corset gown of taupe silk taffeta from “Dressed to Scale,” Autumn/Winter 1998-99, will also be included in the sale. The collection “referenced the fashions that were documented by the 18th century satirist James Gillray and were intended to attract as well as provoke thought and debate,” according to Christie’s.

Additionally, a dress with a blue and white striped blouse and a printed propaganda modesty panel and apron is a part of the wardrobe collection. The dress was a part of “Propaganda,” Autumn/Winter 2005-06, Westwood’s “most overtly political show” at the time. It referenced both her punk era and Aldous Huxley’s essay “Propaganda in a Democratic Society,” according to Christie’s.

The wardrobe collection will be publicly exhibited at Christie’s London from June 14-24.

“The pre-sale exhibition and auctions at Christie’s will celebrate her extraordinary vision with a selection of looks that mark significant moments not only in her career, but also in her personal life,” Hume-Sayer said. “This will be a unique opportunity for audiences to encounter both the public and the private world of the great Dame Vivienne Westwood and to raise funds for the causes in which she so ardently believed.”

Westwood died in December 2022 in London at the age of 81.

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