30th Dec 2015 06:37
LONDON (Alliance News) - Members of Parliament are set to meet with Rolls-Royce Holdings PLC Chief Executive Warren East to discussing his restructuring plans for the jet engine maker, underlining the UK political sensitivities East will have to navigate through as he attempts to return the group to health following five profit warnings, the Financial Times reported.
More than 20 MPs, from both the Conservative and Labour parties, wrote to East earlier this month to request a meeting, highlighting the concerns politicians harbour about the future for the 21,300 people Rolls-Royce employs in the UK and any plans it has to shift production to lower-cost jurisdictions.
East is due to update investors in February on his plans for streamlining the company's decision-making processes and wider cost-cutting efforts, but MPs are understood to be particularly worried about the possibility of the group moving to India the manufacturing of components for its next combat engine.
https://next.ft.com/content/a648aa00-ae4e-11e5-b955-1a1d298b6250
By Sam Unsted; [email protected]; @SamUAtAlliance
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