Rolls-Royce in cost-cutting drive

New Delhi: Global engineering giant Rolls-Royce has announced plans to sack as many as 2,500 jobs globally as part of a drastic cost-cutting exercise.TufanErginbilgiç, a former BP executive, took over as CEO of Rolls-Royce in January when he rocked the company’s employees by describing the iconic aircraft engine-maker as a burning platform whose operations were unsustainable.

The company employs 42,000 people worldwide with about half of the workforce based in the UK. Rolls-Royce’s financial performance had plunged during the pandemic when airlines were grounded, but has improved over the past year, with global air travel bouncing back.