Rolls-Royce has today announced plans to accelerate the transformation of its Marine business as a result of continuing weakness in the maritime market. Rolls-Royces Marine business supplies a range of technology and services to customers operating merchant, offshore and naval vessels.
Planned measures include a further simplification of the structure of the business, with a streamlining of the senior management team, and a series of cost reduction initiatives which will result in the loss of around 800 roles worldwide and an estimated £45-50 million of annualised savings from mid-2017. Costs of this restructuring are expected to be around £20 million, split between 2016 and 2017.
As part of the p…
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