Rolls-Royce Cutting 400 More Jobs from Marine Division

Rolls-Royce is to cut an extra 400 posts from its marine division, after announcing 600 job cuts in May.

According to BBC, the aero-engine maker, which depends on oil and gas-related customers for about 60% of its business, blamed the sharp fall in crude prices for the cuts.

The marine unit has been under pressure over the past 18 months since the price of Brent crude collapsed to six-year lows, and ship orders were cancelled.

The marine business employs about 5,800 people in 34 countries.

myfinancialintelligence.com