29th Jan 2016 06:40
LONDON (Alliance News) - Rolls-Royce Holdings PLC Chief Executive Warren East is expected to announce a cull of senior managers on Friday, part of the ongoing restructuring of the engine maker, the Financial Times reported.
East, who took over as chief executive in July last year, is set to inform staff that a "few dozen" of the 2,000 senior managers at the group will be cut, according to a source close to the situation, focused on those who report directly to him or his executive management team.
Details of a wider cost-cutting plan, part of a push to revive the fortunes of the company following five profit warnings in two years, will be announced when Rolls-Royce publishes its 2015 results on February 12.
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By Sam Unsted; [email protected]; @SamUAtAlliance
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