5th Oct 2015 05:44
LONDON (Alliance News) - Rolls-Royce Holdings PLC plans to cut 400 management jobs in its flagging marine division, the Financial Times reported, citing people familiar with the matter. An announcement is expected early this week.
The Jobs cuts are part of a longer-term plan to shift the marine operations' centre of gravity away from high-cost Scandinavian countries towards Asia, where labour is cheaper and the market is still growing.
In May 2015, Rolls-Royce had announced that it would accelerate cost reduction programmes in its Marine business and reduce the number of employees by a further 600 by the end of the current year in response to challenging market conditions.
Copyright RTT News/dpa-AFX
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