Rolls-Royce announces new multi-year transformation

Engine maker Rolls-Royce will launch a new multi-year transformation program to become a simpler and more streamlined company. The transformation will result in the loss of 2.000 to 2.500 roles, it said on October 17.

The transformation follows on the strategy review that was launched by the new CEO Tufan Erginbilgic

, immediately after he entered office early this year. In his view, there is much room for improvements to make Rolls-Royce a more efficient and more profitable company. Erginbilgic said that Rolls-Royce would focus on key priorities and no longer invest in all the projects it currently has planned.