Rolls-Royce to axe 9K jobs in air travel slump, to save GBP 1.3 bn a year

The 9,000 jobs, out of a global staff of 52,000, will go predominantly from Rolls's civil aerospace business, which generates just over half of its 15 billion pounds ($18 billion)of annual revenues

Rolls-Royce plans to cut at least 9,000 jobs, or more than a sixth of its workforce, in the latest blows to the UK economy and aviation industry dealt by the coronavirus pandemic.

The company, which makes engines for planes such as the Boeing 787 and Airbus 350, said on Wednesday it could also close factories as it shrinks to fit the smaller market it expects to emerge from the crisis.

Airlines and their supplies have been among the hardest hit businesses by lockdowns to contain the pandemic, with passenger air travel grinding to a virtual halt.

Britain, like many other economies, is also