Rolls-Royce CEO cuts 4,600 jobs

June 14 2018 16:24:50

Rolls-Royce CEO cuts 4,600 jobs

LONDON

Rolls-Royce is to cut 4,600 jobs over two years in the latest attempt by boss Warren East to cut costs and make Britain’s best known engineering company more profitable and dynamic.

East has overhauled the since he took charge in 2015 but the new cuts come as the group grapples with an aero-engine problem that has grounded planes and angered clients.

The announcement marks the biggest round of job cuts since the company was forced to retrench during the aviation crisis that followed the 9/11 attacks in the U.S. in 2001.

Türkiye to receive larger foreign capital: Chamber head

Local textile industry facing challenges in export markets

Turkish Airlines hopes to bring more tourists from Chile

Credit card payments increase 78 percent in November

Central Bank expected to cut key interest rate this week

Trump threatens to take back control of Panama Canal

Sri Lanka’s Dissanayake to pay visit to key lender China

WORLD

Winter hitting Gaza as many have little protection from the cold

Winter is hitting the Gaza Strip and many of the nearly 2 million Palestinians displaced by the devastating 14-month war with Israel are struggling to protect themselves from the wind, cold and rain.

ECONOMY

Türkiye to receive larger foreign capital: Chamber head

Türkiye is expected to receive larger foreign capital and resource inflows next year as its economy becomes increasingly more stable and incentives investors, according to Erdal Bahçıvan, chairman of the board of directors of the Istanbul Chamber of Industry (İSO).

SPORTS

Fenerbahçe in tatters after Athletic loss

Fenerbahçe headed into turbulent times after a home loss in the Europa League against Athletic Bilbao on Dec. 11 night added to the club’s wounds and sparked fan protests.