Rolls-Royce may cut thousands of jobs in turnaround plan

Rolls-Royce Holdings Plc could cut thousands of jobs after the company hired consultants led by McKinsey & Co to advice on streamlining its operations, The Times reported. Part of the turnaround plan will see the combination of non-manufacturing departments in each of the company's civil aerospace, defence and power systems divisions, the newspaper said, citing an unidentified consultancy source. As a result, 10% of around 30,000 jobs in these departments could be eliminated, the report said.

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