Rolls-Royce to cut 2,500 jobs in cost cutting drive -Sky News

(Reuters) -Rolls-Royce Holdings is set to axe about 2,500 staff as soon as Tuesday as part of a cost-cutting drive by its new chief executive, Sky News reported on Monday.

The job cuts will be distributed across the engine maker’s global operations and are likely to affect hundreds of UK staff, the report said citing people familiar with the matter.

Rolls-Royce did not immediately respond to a request for comment.

The blue-chip company has experienced a strong recovery under Tufan Erginbilgic, who took over as CEO last January and has since said the firm’s cost base was being “tightly managed” to offset inflationary cost pressures.

In May, Rolls-Royce said it had made no decisions regarding changes to its workforce, in response to a Sunday Times report that it was expected to cut about 3,000 non-manufacturing staff.

(Reporting by Jyoti Narayan in Bengaluru; editing by Jonathan Oatis)