According to this Fox Business report, jet engine maker Rolls-Royce will be cutting 4,600 jobs to save face. The iconic company has taken a beating over the last few months as their jet engines aren’t meeting the standards airlines anticipated.
Britain’s Rolls-Royce, the jet engine maker, said cutting 4,600 jobs will save the company $536 million a year.
It is the latest attempt by CEO Warren East to simplify the business and generate more cash, according to Reuters.
The job cuts announced on Thursday come at a time when the company has been hit by problems with some jet engines that has upset airline clients.
Parts in some versions of the Trent 1000 engine, which powers the Boeing 787 Dreamliner jet, are not lasting as long as expected, forcing the company to ground planes to carry out inspections.
It looks like we’re approaching the end of an era as iconic motorcycle maker Harley-Davidson has been quietly right-sizing its business. According to this Kansascity.com report, Harley will be closing their KC assembly plant leaving almost 800 workers without jobs. This is only the beginning.
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