LONDON: Britain’s Rolls-Royce said it would cut an additional 400 staff from its marine business by the end of next year, in its latest move to make the unit more efficient and cope with a fall in orders as a result of the lower oil price.
Maintaining the profit guidance for the unit, the engineering firm Rolls-Royce said on Monday it would invest cost-savings into research and development activity to position for the future.
Rolls-Royce, whose biggest business is making aero-engines, had already announced in May that it would cut 600 jobs in its marine unit. -- Reuters