The Traderszone Network

Published in TZ Latest News 4 October, 2015 by The TZ Newswire Staff

Rolls-Royce to cut 400 marine division jobs: FT

Chief Executive Warren East’s aim with the marine restructuring will be to strip out management layers and rebase costs in a business that relies on an energy industry now hit by low global oil prices, the FT said. The job cuts are part of a long-term plan to shift the marine operations’ manufacturing away from high-cost Scandinavian countries towards Asia, while retaining research and systems integration in northern Europe, FT said. Rolls Royce spokesman Richard Wray declined to comment.