Rolls Royce: Coronavirus pandemic has been affecting the entire world and all the sectors of the economy, its impact is visible in the form of the increased unemployment rate. Adding to the list now Rolls Royce is planning to fire 8,000 employees after the aviation industry was forced to cut production during the Covid-19 pandemic.
According to the sources, Rolls Royce is expected to officially announce the actual cut-offs to its employees by the end of May. They also added cut-offs can be larger than job losses after 9/11 when the Rolls-Royce group cut 5,000 jobs.
Being one of the world’s largest makers of aircraft engines, had previously marked the coronavirus as “macro-risk for everyone”. The company has to deal with an immediate downfall in the demand in the civil airplanes. Thus, making it challenging to survive during this pandemic.
According to Chris Poulter, Derby council leader, it is “worrying” after Rolls-Royce confirmed some of the 10,000 staff at its two sites could get affected by this crisis.
A spokesman said the pandemic was “unprecedented”, adding: “We have taken swift action to increase our liquidity, dramatically reduce our spending in 2020, and strengthen our resilience in these exceptionally challenging times.
“But we will need to take further action. We have promised to give our people further details of the impact of the current situation on the size of our workforce before the end of this month.”
They also claimed to meet everyone who is affected by this crisis.