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Rolls-Royce Marine to cut 600 jobs

Rolls-Royce Marine to cut 600 jobs
Rolls-Royce Marine is axing 600 jobs, or 10% of its workforce, in response to challenging market conditions having been hit by the lower oil price.

Around half of the job cuts will be in Norway where the company said the majority of its employees and manufacturing facilities are located. The other lay-offs would come from across the globe with Rolls-Royce Marine employing 6,000 people in 34 countries.

Mikael Makinen, Rolls-Royce, president – marine, "It is never an easy decision to propose reductions in our workforce, but it is a sign of the challenging market in which we operate.  We will work closely with employees and their representatives as we manage this change.”

He said that the effect of the low oil price meant they had to seek further efficiencies.

The company said that the job cuts would create GBP25m ($39m) in benefits in 2016.

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