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Rolls-Royce to axe 800 jobs from marine division

Xinhua, December 1, 2016 Adjust font size:

British auto and engine manufacturer Rolls-Royce announced on Thursday to cut top jobs and accelerate the transformation of its marine business.

Planned measures include a further simplification of the structure of the business, with a streamlining of the senior management team, and a series of cost reduction initiatives, the company said in a statement.

This will result in the loss of around 800 top jobs worldwide and an estimated 45 million British pounds to 50 million pounds (56.6 million to 63 million U.S. dollars) of annualized savings from mid-2017.

Rolls-Royce marine business supplies a range of technology and services to customers operating merchant, offshore and naval vessels.

The proposed job reductions are in addition to the reduction of 1,000 employees announced in May and October last year. The marine business currently employs around 4,800 people in 34 countries and regions. Endit