Engineering specialist Rolls-Royce has confirmed the loss of up to 2,500 jobs as it seeks to take a further grip on costs.
The Derby-based firm, best-known for its aircraft engines, revealed its plans hours after Sky News reported that hundreds of UK staff were likely to be affected by the group’s global efficiency drive.
It has cut more than 13,000 roles over the past decade in a bid to bolster profitability.
Chief executive Tufan Erginbilgic, who took over in January, said the latest streamlining plan it was proposing would result in between 2,000-2,500 job losses.
Rolls, which should not be confused with Rolls-Royce Motor Cars, said it would merge its engineering technology and safety groups.
The plan would also see changes in the company’s procurement and supply chain management to cut costs, while finance, legal and human resources functions would be brought together, the company said.
“We are building a Rolls-Royce that is fit for the future”, Mr Erginbilgic told investors.
“Our business is full of committed, talented people and I believe these changes will enable them to build greater capability in areas that are key to our long-term success.
“This is another step on our multi-year transformation journey to build a high performing, competitive, resilient and growing Rolls-Royce.”
Mr Erginbilgic’s predecessor, Warren East, launched two turnaround plans – one in 2020 aimed at surviving the pandemic, which led to 9,000 job losses and another in 2018 that included 4,600 redundancies.
Facing criticism for being on the back foot after a summer of protest outside asylum hotels, they were keen to defend their record and get back on track – but is it too late?
It’s a clear nod to the political void Reform UK has seized on while the prime minister has been on holiday.
Last week, Nigel Farage unveiled his party’s mass deportation policy – though the issue of women and children still seems to be worked out.
But perhaps none of that matters as voters overwhelmingly believe Reform cares about this issue – and as Chris Philp, the shadow home secretary, pointed out on Monday, voters have lost confidence in the government somewhat to solve what many see as an immigration crisis on their doorstep.
So it’s clear the strategy has changed from the government.
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15:11
‘Substantial reforms are needed now’
Gone are the bold slogans of “smashing the gangs” and instead, detail and policy was given on Monday. It was nothing new, but more substance on what the government has done and where they want to move to. Even controversially, reassessing their relationship with the European Convention on Human Rights (ECHR).
The biggest update though, was on their one-in-one-out policy agreement with France, which will now set to start returns later this month.
It’s finally hit home for the government that the public want proof not just rhetoric, and they want to know crucially when they will start to see change.
But the fightback, the reset, whatever the government wants to call it, will only make a difference once that finally starts to work.
Police are asking for help with an unsolved case, 52 years after the murder of a schoolboy in Belfast.
Brian McDermott was 10 when he disappeared from Ormeau Park on Sunday 2 September 1973. His remains were recovered from the River Lagan almost a week later.
Detectives from the Police Service of Northern Ireland’s Legacy Investigation Branch have given a timeline of events as part of their appeal.
Brian left his home on Well Street in the lower Woodstock Road area of east Belfast at around 12.30pm and failed to return for his Sunday dinner.
Detectives said he was last seen playing alone in the playground between 1pm and 3pm that afternoon.
His remains were recovered in the water, close to the Belfast Boat Club.
Image: River Lagan, where the remains of schoolboy Brian McDermott were recovered. Pic: PSNI handout/PA
A PSNI spokesperson said: “We are acutely aware of the pain and suffering that Brian’s family continue to feel, and our thoughts very much remain with the family at this time.
“Despite the passage of time, this murder case has never been closed and I am hopeful that someone may be able to provide information, no matter how small, which may open a new line of inquiry, or add a new dimension to information already available.
“It is also possible that someone who did not volunteer information at the time may be willing to speak with police now. Legacy Investigation Branch Detectives will consider all investigative opportunities as part of the review into Brian’s murder.”
The transfer window was a show of strength in a record-breaking summer across the Premier League.
The totaliser crept over £3bn in spending, with more than half of it flowing among the 20 clubs rather than having a redistributing effect across Europe.
The start of new Premier League TV deals – the biggest individual source of income being from Sky News’ parent company Comcast – provides certainty for the next four years, while rival leagues can struggle to sell rights.
And the feared threat from Saudi Arabia has not materialised. It is an attractive and lucrative destination for some players, but not yet the ultimate destination.
But the kingdom has still influenced this transfer window.
Image: Alexander Isak has joined Liverpool. Pic: Reuters
Let’s start with Newcastle, four years into their ownership by the Saudi sovereign wealth fund.
Having secured a return to the Champions League, bringing UEFA riches, this was the summer to grow rather than lose talent to rivals.
But the Premier League’s pecking order became clear when Alexander Isak pushed for a move to Liverpool and rejected bids that did not deter his ambitions.
Player power won out.
The 25-year-old striker was able to withdraw himself from the squad, miss the opening three matches of the season, and put out a statement claiming promises had been broken by the Magpies.
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Will Liverpool’s spend equal success?
Liverpool ‘loading up on talent’
And so he held on until deadline day, biding his time, sitting it out, and standing firm. Newcastle folded, accepting £125m – £20m lower than their apparent valuation.
Breaking the British record fee was Liverpool’s American ownership flexing financial muscle like never before.
The Premier League champions allowed manager Arne Slot to build from a position of strength.
This was the second time they broke the record in this window after bringing in another forward, Florian Wirtz, in a £116m deal.
More than £400m in reinforcements arrived at Anfield in a matter of weeks.
Former Liverpool managing director Christian Purslow told Sky Sports: “Liverpool are making hay while the sun shines, going for it. Really loading up on talent.
“Other clubs should be fearful and respectful of the way [Fenway Sports Group] are running their club.”
Image: Eberechi Eze (centre right), who left Palace for Arsenal this summer, celebrates winning the FA Cup final. Pic: PA
The Isak deal weakened their Champions League rivals from the North East after banking £57m from another club owned by the Public Investment Fund when Darwin Nunez was offloaded to Saudi.
And PIF funded Chelsea’s summer spending spree in less obvious ways.
The Blues did negotiate a £44m package with PIF-backed Al Nassr deal for Joao Felix, recouping the fee paid just a year earlier.
But then there was the £90m prize money collected for winning the new FIFA Club World Cup – a competition bankrolled by PIF subsidiaries.
Where does this leave Newcastle? Still spending around £250m.
Image: Florian Wirtz joined Liverpool from Bayer Leverkusen. Pic: AP
Players and Liverpool couldn’t get all their way this summer, with Marc Guehi forced to stay at Crystal Palace after the FA Cup winners failed to secure a replacement for the England centre-back.
The late drama was just the latest of the summer transfer window’s twists and turns.
Both Arsenal and Manchester United also spent more than £200m each. The Gunners spent big in pursuit of a title that’s eluded them since 2004, while the Red Devils are just trying to get back into the Champions League.
It added up to a new record total outlay that comfortably eclipsed the previous Premier League record of £2.46bn from 2023.
The £3bn is more than the rest of Europe combined, showing both where the power is in world football and why the Premier League is the one the world wants to watch.