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Rolls-Royce to cut 4,600 jobs to save 400 million pounds a year

The company said the job cuts and overhaul of its business would cost it 500 million pounds and they would be spread across 2018, 2019 and 2020, and would be reported as separate one-off costs, allowing it to stick to its targets for free cash flow.

Rolls-Royce to cut 4,600 jobs to save 400 million pounds a year

London: Britain`s Rolls-Royce said it would cut 4,600 jobs primarily in the UK as part of a plan to simplify its business and save 400 million pounds ($536 million) per year by the end of 2020.

The company said the job cuts and overhaul of its business would cost it 500 million pounds and they would be spread across 2018, 2019 and 2020, and would be reported as separate one-off costs, allowing it to stick to its targets for free cash flow.