Rolls Royce issues statement after report suggests company will cut 8,000 jobs

Rolls Royce has released a statement following claims that the company is planning to shed up to 8,000 jobs.

The report by the Financial Times suggests the manufacturer has been severely affected by the collapse in global air travel.

It says the company is currently working on a restructuring programme that will affect 15% of the company's 52,000-strong workforce.

It is not yet known how the changes will impact the 14,000 employed at the firm's sites in Derby.

In a statement, Rolls Royce says the impact of COVID-19 is 'unprecedented' and that it has been forced to take swift action to increase its liquidity and dramatically reduce its spending.

It claims further action is needed and says employees will be notified about any cuts by the end of the month.

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