Thank you for the replies.
It is interesting to read that not much changes, apart from rudder input. I find it very interesting, and reassuring, that the certification for engine failure on take-off means there is no need for quick, corrective action to avoid a dangerous situation developing. They're clever, those people at Boeing and Airbus.
Couple of follow-up questions, if I may.
If, as you say, the pilot does not reduce the angle of attack or increase thrust after the engine failure, am I right in thinking the aircraft will however accelerate more slowly given the reduced engine thrust?
Am I also correct in thinking that the engine failure certification and take-off performance calculations ensure that, even if you do not reduce the angle of attack, there is no chance that the speed will stick at Vr or even decay towards a stall?
In your simulator training, do you need to train for and practise engine failure at V1 and Vr separately, or is the rudder input sufficiently similar that if you can handle one situation, you can handle both?
NR: Thanks for the clarification. Yes, I'm aware all take-offs are flown manually.