NOT just an engine failure..
Something to think about,
Assuming the engine is shut down and no fire exists, all may not be well. I have witnessed the damage the the "other parts" that an uncontained engine failure can cause. Punctures of the wing and fuselage, and possible damage to the engine next door( I know, there will be a couple of light twin guys saying BS ) , as I'm referring to a 4-engine type like the 747. I doubt the extent of any such damage can be fully comprehended when viewed from the inside. I guess what I'm saying is that AFTER the engine is shut down, the REAL emengency may be just around the corner.....
On a side note, I do remember seeing a picture of an American 757? that during a ground run up, an uncontained engine failure in #1 resulted in a "chunk" of that engine passing through the fuselage, and damaging the #2 engine. I could only imagine what would have ensued had the event happened at V1.