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Sunday, March 3, 2024

Rolls-Royce cutting staff again

Rolls-Royce’s marine division in Norway has offered all 1,650 of its employees severance pay packages if they volunteer to give up their jobs. It’s the first step in efforts to cut staffing because of poor market prospects.

“We don’t see any immediate improvement in the market now,” Rolls-Royce’s resturcturing director, Jan Petter Hagen, told newspaper Dagens Næringsliv (DN). Rolls-Royce Marine has decided to cut 800 of its 4,800 staff positions worldwide. Since a third of them are located in Norway, cuts at the company’s five divisions in the county of Møre og Romsdal appear unavoidable.

“We still don’t know how many of the up to 800 jobs will be eliminated in Norway,” Hagen told DN, nor does the company have any goal for how many may voluntarily quit. The size of the severance packages varies based on seniority, but will likely range from three- to seven months of pay in addition to what’s paid out during the period between notification of severance and actual resignation, normally three months in Norway.

Rolls-Royce, which has been deeply troubled by other problems internationally in recent years, has cut production in Norway by half after oil prices fell and offshore activity declined dramatically. More reductions are expected this year. staff



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