Rolls-Royce May Cut Thousands of Jobs in Turnaround Plan

Rolls-Royce Holdings Plc could cut thousands of jobs after the company hired consultants led by McKinsey & Co. to advise on streamlining its operations, The Times reported.

Part of the turnaround plan will see the combination of non-manufacturing departments in each of the company’s civil aerospace, defense and power systems divisions, the newspaper said, citing an unidentified consultancy source. As a result, 10% of around 30,000 jobs in these departments could be eliminated, the report said.