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Rolls-Royce to cut another 800 jobs at ailing marine business

Rolls-Royce Holdings Plc plans to eliminate another 800 positions in its Marine Division. All in all, the company is implementing restructuring measures which should deliver annualized savings of up to GBP 50 million from mid-2017, according to a statement from Rolls-Royce.

Photo: Rolls Royce PR

Rolls-Royce Holdings Plc will cut 800 more posts at its marine-equipment and ship-design unit, or about 17 percent of the remaining workforce, as the lower price of crude hurts demand for oil-industry exploration and service vessels.

Restructuring steps will include a further simplification of the unit's structure, including a "streamlining" of senior management, plus unspecified cost-reduction initiatives, London-based Rolls-Royce said Thursday.

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