Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

British aero-engine producer Rolls-Royce Holdings Plc has planned to shut down a few factories, reduce working hours, and cut employee benefits, according to media reports. The steps are a part of the company’s cost-cutting measures.


The company informed its employees about the cost-cutting measures last week to deal with the losses incurred due to the COVID-19 pandemic to the aircraft sector.


The company is planning to cut 9,000 jobs and close factories.


It is also facing strike at one of its oldest plants located at Barnoldswick in Lancashire in the United Kingdom after the company proposed to shift some of its production to Singapore.


As per reports, the employees at the Barnoldswick unit are planning three weeks of strike action from November 6.

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