- News>
- Companies & Commodities
Rolls-Royce to cut over 500 jobs this year
Indianapolis, June 21: Jet engine maker Rolls-Royce Corp. plans to cut 520 jobs this year through voluntary resignations or layoffs, the company said.
Indianapolis, June 21: Jet engine maker Rolls-Royce Corp. plans to cut 520 jobs this year through voluntary resignations or layoffs, the company said.
With commercial engine orders down 18 per-cent since 2001, the company will trim 11.8 percent of its 4,400 hourly and salaried positions, officials said Thursday. Most of the cuts are expected in July and August.
Commercial airlines have cut orders, hammering the company in Indianapolis. Orders from the military have remained steady, accounting for about 40 percent of the plant's $1.3 billion in annual sales.
"After (the attacks of) 9-11 we waited for the rebound to happen in the airline industry, and it just never did," said spokesman John Brown.
With commercial engine orders down 18 per-cent since 2001, the company will trim 11.8 percent of its 4,400 hourly and salaried positions, officials said Thursday. Most of the cuts are expected in July and August.
Commercial airlines have cut orders, hammering the company in Indianapolis. Orders from the military have remained steady, accounting for about 40 percent of the plant's $1.3 billion in annual sales.
"After (the attacks of) 9-11 we waited for the rebound to happen in the airline industry, and it just never did," said spokesman John Brown.
The company delivered 685 commercial engines in 2001 but has orders in hand for only 561 this year, brown said. Similar volumes are projected over the next two years.
Bureau Report