9,000 Rolls-Royce jobs to go
From the above link, "Unite the union said the decision was "shameful opportunism".", it's clear that the Govt should have explained better what the aim of furlough money is/was, namely to keep people paid whilst the country is in "lockdown" so they could resume their work immediately when the lockdown ends. Of course, that's assuming each persons' business sector hasn't tanked in the mean time (ie work would effectively pick up where it left off).
For the lucky ones, that will be the case. For many, particularly in (or related to) aviation, this is but one of many aftershocks which will follow the implosion of flying. It's how the subsequent downsizing is handled - that's where opportunism can come in as highlighted in the BA Restructuring thread where that is discussed in detail! And how it will end is also another of the great debates regarding the length of the downturn.
All in all really sad to see and thoughts go out to all those who may be impacted. Truly a most unwanted epoch is upon us all.
Very sad news. Highly trained, skilled and experienced people being thrown away.
Nobody is buying airliners so nobody is buying engines. A huge chunk of RR revenue comes from maintenance and service, that has also almost completely stopped over past few months. Doubt that these folk are being "thrown away," more like laid off until people start actually using and buying engines again.
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Bad news but I honestly cannot see what else RR can do - if nobody is buying your product you have to downsize to a point where you can survive. Hopefully RR can survive in the new reality.
I would like to liken this to a trickle down effect, but it's more of a landslide
RR can't sustain their workforce which is really due to the airlines not flying, which is due to the lockdown effect between states. In hindsight this may have been mitigated within an industry by a broad diversification, but it's too late for that. Others are sure to follow until governments run out of money.
Some hard decisions are needed soonest by the public
RR can't sustain their workforce which is really due to the airlines not flying, which is due to the lockdown effect between states. In hindsight this may have been mitigated within an industry by a broad diversification, but it's too late for that. Others are sure to follow until governments run out of money.
Some hard decisions are needed soonest by the public
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I didn't think it would be good news regarding the job losses per my post on the 3rd May.
What about the reps working for RR around the world in the private jet world with RR powered frames?
Sad news but not just Corona related is it?
Thread Starter
Hmmm.
From the linked article:
Does that help ?
From the linked article:
This morning's job losses are hardly unexpected - airlines have cut their flying hours by 90% or more, and Airbus and Boeing have slashed their production numbers for the next few years
Air travel has ground to a virtual standstill since the coronavirus began spreading across the world and many airlines have announced steep job cuts.
Global air traffic is expected to decline by 45% this year, according to investment bank Baird. It also forecasts that airlines are expected to lose $310bn (£253bn) in revenue in 2020.
Rolls-Royce said the impact of the pandemic on the company and the whole of the aviation industry "is unprecedented".
It added that it is "increasingly clear that activity in the commercial aerospace market will take several years to return to the levels seen just a few months ago".
Air travel has ground to a virtual standstill since the coronavirus began spreading across the world and many airlines have announced steep job cuts.
Global air traffic is expected to decline by 45% this year, according to investment bank Baird. It also forecasts that airlines are expected to lose $310bn (£253bn) in revenue in 2020.
Rolls-Royce said the impact of the pandemic on the company and the whole of the aviation industry "is unprecedented".
It added that it is "increasingly clear that activity in the commercial aerospace market will take several years to return to the levels seen just a few months ago".
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Published Nov 2019
The bill to fix Rolls-Royce’s Trent 1000 engine has risen by another 800 million pounds ($1 billion) as the aerospace group battles to reduce disruption to airline customers that have had to ground Boeing 787 passenger planes for repairs.
The British engineer said on Thursday its operating profit and cash flow this year would come in at the bottom of its guidance - both at about 600 million pounds - as the cost of the Trent 1000′s problems rose to 2.4 billion pounds for 2017-2023.
Chief Executive Warren East said Rolls would spend more on parts and replacement engines to reduce the time aircraft are grounded while turbine blades are replaced.
“We want to get planes back into the skies faster, giving (airlines) much better visibility of when engines need to be serviced and better confidence in scheduling, and providing clarity to investors,” he told reporters.
He said the plan meant Rolls could keep its promise of reducing the number of aircraft on the ground to single digits by the second quarter of 2020 and maintain it at that level.
The Trent is one of two engine options for the 787, which can also be powered by rival GE Aviation’s GEnx engines.
Emirates President Tim Clark said in September he was “a little bit irritated” with reliability issues at Rolls and GE, adding he would not commit to ordering 787s as there was no stability in Rolls’ engine program.
The bill to fix Rolls-Royce’s Trent 1000 engine has risen by another 800 million pounds ($1 billion) as the aerospace group battles to reduce disruption to airline customers that have had to ground Boeing 787 passenger planes for repairs.
The British engineer said on Thursday its operating profit and cash flow this year would come in at the bottom of its guidance - both at about 600 million pounds - as the cost of the Trent 1000′s problems rose to 2.4 billion pounds for 2017-2023.
Chief Executive Warren East said Rolls would spend more on parts and replacement engines to reduce the time aircraft are grounded while turbine blades are replaced.
“We want to get planes back into the skies faster, giving (airlines) much better visibility of when engines need to be serviced and better confidence in scheduling, and providing clarity to investors,” he told reporters.
He said the plan meant Rolls could keep its promise of reducing the number of aircraft on the ground to single digits by the second quarter of 2020 and maintain it at that level.
The Trent is one of two engine options for the 787, which can also be powered by rival GE Aviation’s GEnx engines.
Emirates President Tim Clark said in September he was “a little bit irritated” with reliability issues at Rolls and GE, adding he would not commit to ordering 787s as there was no stability in Rolls’ engine program.
At least the Corona related slowdown will allow Rolls to get caught up on the Trent 1000 issues.
I had beer with a former co-worker back in January - she was involved in the Trent 1000. She told me they still had ~35 Trent powered 787s grounded because they didn't have engines.
I had beer with a former co-worker back in January - she was involved in the Trent 1000. She told me they still had ~35 Trent powered 787s grounded because they didn't have engines.
Thread Starter
One of British Airways' B789s hasn't flown since September of last year.
Wondering did the Nimrod MRA4 cancellation initiate all their problems?
How much revenue can power-by-the-hour contracts generate when entire fleet are grounded?