Rolls-Royce provided (02-Aug-2018) the following update on progress with its restructuring programme:
- Since initial announcement, progress has been made to simplify the group into three customer-focused business units.
- A new Defence business has been formed by combining the company’s Naval and Submarine businesses with Defence Aerospace;
- Civil Nuclear has been moved into Power Systems;
- Rolls-Royce has successfully completed the sale of L’Orange and announced an agreement to sell its Commercial Marine business;
- Restructuring will impact around 4600 positions. Restructuring efforts are now focused on removing duplication and fixing the inefficient processes and interfaces across the business. All parts of the business will be managed under a “radically simplified” structure, alongside an operating framework that clearly outlines roles and responsibilities;
- Executive leadership has held many face-to-face discussions with employees to help to set priorities and identify challenges ahead. This is a tremendous opportunity to create the world’s leading industrial technology company. [more – original PR]