British manufacturing giant Rolls-Royce has announced that it could have to axe up to 8,000 jobs after the company was forced to cut production due to the COVID-19 pandemic.
Rolls-Royce currently employs more than 54,000 people worldwide – with around 23,000 staff based in the UK.
As part of a £750m action plan to save costs across the country, more than 8,000 people in the UK could lose their jobs. The actual number of job losses is set to be announced by the end of May.
A Rolls-Royce spokesman said: “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.”