Rolls-Royce Holdings Plc will eliminate 4,600 jobs in Chief Executive Officer Warren East's biggest step yet to overhaul the UK jet-engine manufacturer and save more than half a billion dollars a year.
Around one-third of the staff cuts will occur by the end of 2018, the London-based company said Thursday in a statement. The annual cost-savings goal of GBP 400 million pounds (USD 533 million) is targeted by the end of 2020, the company said, confirming a Bloomberg News report on Wednesday.
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