Rolls-Royce Holdings (RR.)

Sector:

Defense and Aeronautics

Index:

FTSE 100

279.00p
   
  • Change Today:
    -1.90p
  • 52 Week High: 891.20
  • 52 Week Low: 247.00
  • Currency: UK Pounds
  • Shares Issued: 1,931.00m
  • Volume: 5,131,235
  • Market Cap: £5,388m
  • RiskGrade: 469

Rolls-Royce to cut at least 9,000 jobs

By Sean Farrell

Date: Wednesday 20 May 2020

LONDON (ShareCast) - (Sharecast News) - Rolls-Royce said it would cut at least 9,000 jobs as part of a plan to save more than £1.3bn a year in response to the "unprecedented" impact of the Covid-19 crisis on the aviation industry.
The FTSE 100 engine maker said the job cuts from its global workforce of 52,000 would fall mainly on the civil aerospace business and that it would also review the division's facilities.

The job cuts will save about £700m a year and the restructuring will also reduce spending on plant and property, capital and other areas. The cost of the programme will be about £800m over three years.

Rolls-Royce said it had already taken steps to reduce spending during the crisis but that it was now clear that it will take several years for commercial aerospace to pre-crisis levels. Airline fleets have been grounded and the industry is struggling to find ways to survive new norms on social distancing and a deep recession.

Warren East, Rolls-Royce's chief executive, said: "Being told that there is no longer a job for you is a terrible prospect and it is especially hard when all of us take so much pride in working for Rolls-Royce. But we must take difficult decisions to see our business through these unprecedented times."



East said the company's central support functions would also lose jobs. The defence division has been unaffected by the crisis and does not require job cuts, he said. While talks with unions go on the company will not discuss which sites or countries will be affected.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Rolls Royce Market Data

Currency UK Pounds
Share Price 279.00p
Change Today -1.90p
% Change -0.68 %
52 Week High 891.20
52 Week Low 247.00
Volume 5,131,235
Shares Issued 1,931.00m
Market Cap £5,388m
RiskGrade 469

Rolls Royce Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
49.39% above the market average49.39% above the market average49.39% above the market average49.39% above the market average49.39% above the market average
23.08% above the sector average23.08% above the sector average23.08% above the sector average23.08% above the sector average23.08% above the sector average
Price Trend
90.9% below the market average90.9% below the market average90.9% below the market average90.9% below the market average90.9% below the market average
84.62% below the sector average84.62% below the sector average84.62% below the sector average84.62% below the sector average84.62% below the sector average
Income
57.77% below the market average57.77% below the market average57.77% below the market average57.77% below the market average57.77% below the market average
60% below the sector average60% below the sector average60% below the sector average60% below the sector average60% below the sector average
Growth
29.36% above the market average29.36% above the market average29.36% above the market average29.36% above the market average29.36% above the market average
7.69% above the sector average7.69% above the sector average7.69% above the sector average7.69% above the sector average7.69% above the sector average

What The Brokers Say

Strong Buy 6
Buy 0
Neutral 5
Sell 4
Strong Sell 4
Total 19
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Rolls Royce Dividends

  Latest Previous
  Interim Final
Ex-Div 24-Oct-19 25-Apr-19
Paid 03-Jan-20 01-Jul-19
Amount 4.60p 7.10p

Trades for 07-Jul-2020

Time Volume / Share Price
15:56 162 @ 279.00p
15:56 25 @ 279.00p
15:56 466 @ 278.80p
15:56 3,500 @ 278.70p
15:56 1,100 @ 278.60p

Rolls Royce Key Personnel

Chair Ian Davis
CEO Warren East
CFO Stephen Daintith

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