ENGINE maker Rolls-Royce is slashing jobs as it restructures operations following a return to profit.
Bosses have hired advisers Alvarez & Marsal to help it move to a “considerably” simplified staff structure.
The move comes after the business, which runs an aircraft fan and turbine disc-making plant in Washington, Wearside, bounced back from record losses with a £4.9bn profit haul in 2017.
The rise, revealed today (Wednesday, March 7), was helped by a £2.6bn accounting boost from the pound’s recent recovery and marks an upturn from a dire 2016, when Roll-Royce fell into the red by £4.6bn after being hit by sterling’s plunge and a corruption scandal.
Warren East, chief executive, said it was too early to say how many jobs will be affected under the restructure.
However, he confirmed the shake-up will lead to a slimmed down corporate centre and will cut out duplication in its support and management functions.
Around 600 managers have left the group since 2015 in a separate overhaul.
But Mr East stressed the revamp is not expected to affect engineers, with plans to invest £1.4bn in research and development and the hiring of engineers and technology experts.
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