Rolls Royce workers near Coventry facing uncertain future

Local, national, international and oddball news stories

Rolls Royce workers near Coventry facing uncertain future

Postby dutchman » Fri Jun 15, 2018 8:23 pm

The aeroplane engines giant announced thousands of job cuts on June 14

Image

Rolls Royce workers at Ansty are facing uncertainty over whether their jobs are safe or not after the firm announced plans to cut more than 4,500 roles.

The plant near Coventry makes fan cases for civil aero engines, and employs several hundred workers.

On Thursday, June 14, Rolls Royce, which also has plants in Derby, Bristol, Lancashire, Nottinghamshire, Renfrewshire, Sunderland and London, announced 4,600 job cuts .

The shock announcement came as the company tried to bring its costs down and boost profitability.

A spokesman for the Unite union said: "We're not sure about job losses at the site in Ansty to be honest.

"The company emailed the headline figures and it is now a case of working through the total of what is being proposed.

"The main focus of the loss is managerial."

The redundancies will take place over the next two years, with about one-third going by the end of this year.

Middle managers and back office staff at its Derby base will bear the brunt of the cuts, it has been reported.

Image


They've been buidling manufacturing plants all over the world so why would they need British workers any more? :roll:
User avatar
dutchman
Site Admin
 
Posts: 36407
Joined: Fri Oct 23, 2009 1:24 am
Location: Spon End

Re: Rolls Royce workers near Coventry facing uncertain future

Postby rebbonk » Sat Jun 16, 2018 11:39 am

Ansty has been on borrowed time for years, which is a real shame as they have some very skilled people there.

Rolls Royce as a company is now struggling to maintain it's skills base (blame short-term inward looking lean principles) and it's going to take a while to recoup these skill losses.
User avatar
rebbonk
 
Posts: 51176
Joined: Thu Nov 12, 2009 7:01 am

Re: Rolls Royce workers near Coventry facing uncertain future

Postby Melisandre » Sat Jun 16, 2018 2:08 pm

The very reason Thatcher wanted us to go to services . I laugh how gullible the Brits are when we are told to teach these skills and educate others here and every where else then wonder why the jobs go else where. The EU has built up their industry while taking all our industry and fishing . We seem to prefer to make skilled workers and training others around the world and educate them rather than our own people and country. People are always loyal to their own countries from where they stem hence why China kept their tea and silk secret for so long.
User avatar
Melisandre
 
Posts: 12918
Joined: Fri Oct 16, 2015 8:52 am

Re: Rolls Royce workers near Coventry facing uncertain future

Postby dutchman » Mon May 04, 2020 5:55 pm

Rolls-Royce to consult following reports company could axe 8,000 jobs

Image

Aerospace giant Rolls-Royce has confirmed it is “working closely” with staff and trade unions amid reports the company could cut thousands of jobs.

The Financial Times reported claims from a company source that senior executives within the firm are working on a restructuring plan that could lead to the loss of around 8,000 roles.

Rolls-Royce has not confirmed the figure but said it needed to “take further action” despite increasing liquidity and reducing spending following the Covid-19 outbreak.

Rolls-Royce employs several hundred workers at its manufacturing site in Ansty.

The plant on the edge of Coventry makes fan cases for civil aero engines.

The company said in a statement: “The impact of the Covid-19 pandemic is unprecedented.

“We have taken swift action to increase our liquidity, dramatically reduce our spending in 2020, and strengthen our resilience in these exceptionally challenging times.

“But we will need to take further action. We have to do this right, which means we are working closely with our employee and trade union representatives and then we will consult with everyone affected.

“We have promised to give our people further details of the impact of the current situation on the size of our workforce before the end of this month.”

An announcement on a final figure for the proposed job cuts is not expected before the end of May.

If Rolls-Royce does cut 8,000 roles, it would be the single biggest workforce reduction in 30 years, according to the Financial Times. The company currently employs around 52,000 people.

The trade union Unite is now calling on Rolls-Royce and other manufacturers to “step back from drastic short-term responses”.

Steve Turner, Unite assistant general secretary, said: “We understand the challenges to our industries from Covid-19 and the impact of Government measures to protect public health on both the immediate and longer-term outlook for manufacturing as well as the wider economy.”

“Right now we are asking Rolls-Royce, along with others across manufacturing, to hold firm and defer from short-term reactions that will both damage the economy and undermine our ability to emerge from this with job security and consumer confidence intact.”

The news comes as Rolls-Royce and Airbus halted a joint project to create an experimental hybrid-electric aircraft.

Image
User avatar
dutchman
Site Admin
 
Posts: 36407
Joined: Fri Oct 23, 2009 1:24 am
Location: Spon End

Re: Rolls Royce workers near Coventry facing uncertain future

Postby dutchman » Sat Jul 04, 2020 11:06 am

Claims firms "shipping British jobs overseas" after 65 roles cut

Image

A warning has been issued over a “jobs crisis” – as an MP spoke out over concerns that British jobs are being “shipped abroad”

It comes after news that 65 out of 167 jobs at Rolls-Royce’s site in Ansty, just outside Coventry, are to be slashed.

They are just some of 3,000 jobs in the UK that the firm has confirmed will be cut.

In a debate in the House of Commons, Coventry North West MP Taiwo Owatemi spoke of concerns that companies such as Rolls-Royce are “shipping jobs abroad”.

In a statement, the firm denied this was the case and stated that the latest job losses are due to the impact of the coronavirus pandemic and a decline in demand.

In the debate, which related to the support for UK industries amid the pandemic, Ms Owatemi commended the support that has been made available by the government during the lockdown but raised concerns over the “true extent of the crisis in our jobs market”.

She said: “We have seen lay-offs in companies large and small. According to the Library, in Coventry North West there were 4,630 claimants for unemployment benefit; a further 3,200 claims were made to the self-employment income support scheme, which is equivalent to 71 per cent of the potentially eligible population; and there are currently 13,100 jobs on furlough through the job retention scheme.

“Although the Government’s support is commendable, my fear is that it may mask the true extent of the crisis in our jobs market.”

She added: “Rolls-Royce’s announcement to cut 65 jobs from its workforce of 167 at Ansty is hugely disappointing. The site is renowned for its expertise, being the only one that can weld the veins of plane propellers.

“From my conversations with staff and union reps at the site, I understand that they fear the company is using coronavirus as an excuse to ship jobs outside the UK, and to rehire staff on worse contracts here and abroad.

“There are also concerns that this move has been in the works, as their pensions will also change.

“Is this what the Government meant by global Britain – allowing companies such as Rolls-Royce to receive research and development funding, and job retention money, while they ship British jobs abroad?”

Image
User avatar
dutchman
Site Admin
 
Posts: 36407
Joined: Fri Oct 23, 2009 1:24 am
Location: Spon End

Re: Rolls Royce workers near Coventry facing uncertain future

Postby rebbonk » Sat Jul 04, 2020 1:40 pm

I feel sorry for the workers that are left.

It's no fun wondering when your job is going to be next to go. When I was younger I bit the bullet and jumped before being pushed, it isn't so easy to do that as you get older.
User avatar
rebbonk
 
Posts: 51176
Joined: Thu Nov 12, 2009 7:01 am

Re: Rolls Royce workers near Coventry facing uncertain future

Postby dutchman » Sun Sep 27, 2020 4:48 pm

It gets worse...

Rolls-Royce poised to tap investors for £2.5bn at steep discount to current share price to solve funding crisis

Image

Rolls-Royce is poised to tap investors for £2.5billion at a steep discount to the current share price to solve its funding crisis, The Mail on Sunday understands.

City sources said it was considering pricing the cash call at £1 per share – 35 per cent below Friday's closing price of £1.54.

The hefty discount – which will come as a blow to shareholders of the FTSE100 giant' – would encourage investors to back the aerospace giant which has been bled dry during the coronavirus crisis with planes grounded.

Following a story in The Mail on Sunday, Rolls confirmed on Monday it was weighing raising up to £2.5billion through 'a variety of structures including a rights issue and potentially other forms of equity issuance'.

The company added that it could also issue debt.

Sovereign wealth funds from Kuwait and Singapore are reported to be in talks to take stakes in Rolls as part of the fundraise.

Sky News reported on Friday that up to £500million of the £2.5billion has been allocated to sovereign wealth funds.

An announcement from Rolls could come as early as this week.

A spokesman for the company said: 'We continue to review all funding options to enhance balance sheet resilience and strength.

'No final decisions have been taken as to whether or when to proceed with any such options, the precise amount that may be raised, or any allotment of shares to any investor including any sovereign wealth fund.'

Image
User avatar
dutchman
Site Admin
 
Posts: 36407
Joined: Fri Oct 23, 2009 1:24 am
Location: Spon End

Re: Rolls Royce workers near Coventry facing uncertain future

Postby rebbonk » Sun Sep 27, 2020 4:57 pm

When I first started playing with investments, I once added to a share portfolio by buying shares at a heavily discounted price. Let's just say it didn't end well and I've learned an awful lot since!

RR is a distressed company. It shouldn't be in the mess it's in, that's down to poor management and leadership that have blindly followed a flawed business strategy/model. Unless they are going to shed an awful lot of the top brass I'll be giving this one a very wide berth.
User avatar
rebbonk
 
Posts: 51176
Joined: Thu Nov 12, 2009 7:01 am

Re: Rolls Royce workers near Coventry facing uncertain future

Postby rebbonk » Mon Oct 26, 2020 10:18 pm

User avatar
rebbonk
 
Posts: 51176
Joined: Thu Nov 12, 2009 7:01 am

Re: Rolls Royce workers near Coventry facing uncertain future

Postby dutchman » Wed Nov 25, 2020 12:52 pm

New business park and hotel planned at Rolls Royce site on the edge of Coventry

Image

A new business park, hotel and retail units to support more than 5,300 jobs are planned on the site of the Rolls Royce facility just outside Coventry.

The huge scheme off Combe Fields Road could see the creation of a new 16 hectare business park accommodating industrial, warehouse and office space.

Manse Opus and Rolls Royce, which have put forward the bid, also proposed a 120-bed hotel to support business alongside a small element of retail.

The site is currently partially used by Rolls Royce’s Industrial Power Systems division who will remain in two buildings, however demolition has already begun on others.

The area also includes Meggitt’s new ‘super site’ which is currently under construction, with the planned new business park set to be built around the two.

The location is within the green belt but has been allocated for employment under Rugby Borough Council’s Local Plan.

Planning statements submitted to Rugby council said it will increase employment opportunities and attract new occupiers with “world class facilities”.

The city council said in consultation: “Whilst we are in overall support of the proposal for commercial and industrial uses, we are concerned about the provision of a hotel in this location. In addition to comments from our consultees we have a representation from a local resident who considers insufficient consideration has been given to sustainable transport measures, including public transport.”

Image
User avatar
dutchman
Site Admin
 
Posts: 36407
Joined: Fri Oct 23, 2009 1:24 am
Location: Spon End


Return to News

Who is online

Users browsing this forum: No registered users and 1 guest

  • Ads
cron