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

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.

Italian fine wines are gaining momentum among Australian collectors and drinkers, with new data from showing a surge in interest driven by value, versatility and a new generation of producers.

Long dominated by France, the premium wine conversation is beginning to shift, with Italy increasingly positioned as a compelling alternative for both drinking and collecting.

According to Langtons, the category is benefiting from a combination of factors, including its breadth of styles, strong food affinity and more accessible price points compared to traditional European benchmarks.

“Italy has always offered fine wine fans an incredible range of wines with finesse, nuance, expression of terroir, ageability, rarity, and heritage,” said Langtons General Manager Tamara Grischy.

“There’s no doubt the Italian wine category is gaining momentum in 2026… While the French have long dominated the fine wine space in Australia, we’re seeing Italy become a strong contender as the go-to for both drinking and collecting.”

The shift is being reinforced by changing consumer preferences, with Langtons reporting increased demand for indigenous Italian varieties and lighter, food-first styles such as Nerello Mascalese from Etna and modern Chianti Classico.

This aligns with the broader rise of Mediterranean-style dining in Australia, where wines are expected to complement a wider range of dishes rather than dominate them.

Langtons buyer Zach Nelson said the category’s versatility is central to its appeal.

“Italian wines often have a distinct, savoury edge making them an ideal pairing for a variety of cuisines,” he said.

The move towards Italian wines also comes as prices for traditional French regions continue to climb, particularly in Burgundy, prompting collectors to look elsewhere for value without compromising on quality.

Italy’s key regions, including Piedmont and Etna, are increasingly seen as offering that balance, with premium wines available at comparatively accessible price points.

Nelson said value is now a defining factor for buyers in 2026.

“Value is the key driver for Australian fine wine consumers… Italian wines are offering exactly that at an impressive array of price points to suit any budget,” he said.

The category is also proving attractive for newer collectors, offering what Langtons describes as “accessible prestige” and a more open entry point compared to the exclusivity often associated with Bordeaux.

Wines such as Brunello di Montalcino and Nebbiolo-based expressions are increasingly being positioned as entry points into cellar-worthy collections, combining ageability with relative affordability.

At the same time, a new generation of Italian producers is reshaping the category, moving away from heavier, oak-driven styles towards wines that emphasise site expression and vibrancy.

“There’s definitely a ‘new guard’ of Italian winemaking… stripping away the makeup… to let the raw, vibrating energy of the site speak,” Nelson said.

Langtons is also expanding its offering in the category, including exclusive access to wines from family-owned producer Boroli, alongside a broader selection spanning Piedmont, Veneto, Sicily and Tuscany.

The company will showcase the category further at its upcoming Italian Collection Masterclass and Tasting in Sydney, featuring more than 50 wines from 23 producers across four key regions.

For collectors and drinkers alike, the message is clear: Italy may have been overlooked, but it is no longer under the radar.

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

Italian wines are emerging as a serious contender for Australian collectors, offering depth, rarity and value as French benchmarks continue to climb.