UK government is ready to support workers after Rolls-Royce job cuts announcement
A spokesman for Prime Minister Boris Johnson stated on Wednesday that the UK government would be ready to support Rolls-Royce’s (RR.L) employees after the British multinational engineering company announced that it would slash at least 9,000 jobs from its global workforce of 52,000.
Rolls-Royce said that it plans to reorganize the company to cope with lower demand from its major customers Boeing (NYSE:BA) and Airbus (EPA:AIR). Some measures were made right after the aviation industry was severely affected amid the virus outbreak. The British government said that it would work with Rolls-Royce and other companies to look for options in supporting the sector.
“Clearly we will have to go to work with the employer to look at the options. All of us will be looking not just at Rolls Royce but at the whole sector and the implications of this for the supply chains as well, let’s not forget them, to make sure we are doing everything we can in terms of plans and action to support what is a very high skilled part of our economy,” the British Justice Secretary Robert Buckland stated in an interview.