Rolls-Royce’s CEO Tufan Erginbilgic called the company a “burning platform” in need of transformation as he took the helm at the British aerospace and engineering giant earlier this year. His efforts to turn the company around have led to higher profits in a matter of months and a stock price that's soared 120% so far in 2023.
Now, as part of its cost-cutting measures to make it “fit for the future,” the company is planning to lay off between 2,000 and 2,500 employees.
