Rolls-Royce Holdings PLC

Rolls-Royce Holdings Plc designs, develops, manufactures, and services integrated power systems for use in the air, on land, and at sea. The company operates its business through following segments: Civil Aerospace, Power Systems, Defense and ITP Aero. The Civil Aerospace segment offers commercial aero engines and aftermarket services. The Power Systems segment includes engines, power systems and nuclear systems for civil power generation. The Defense segment consists of military aero engines, naval engines, submarines and aftermarket services. The ITP Aero segment provides aeronautical engines and gas turbines. The company was founded in March 1906 and is headquartered in London, the United Kingdom.

Ratings agency Standard & Poor's cut engine maker Rolls-Royce's  credit rating to junk on Thursday, citing the disruption caused to global air travel from the COVID-19 pandemic.

S&P cuts Rolls-Royce credit rating to junk on COVID-19 hit

Rolls-Royce plans to cut at least 9,000 jobs, or more than a sixth of its workforce, in the latest blows to the UK economy and aviation industry dealt by the coronavirus pandemic. The company, which makes engines for planes such as the Boeing 787 and Airbus 350, said on Wednesday it could also close factories.

Rolls-Royce axing 9,000 workers, mostly from civil aerospace

Rolls-Royce plans to cut at least 9,000 jobs in the latest blows to the U.K. economy and aviation industry dealt by the coronavirus pandemic.

Britain's Rolls-Royce to axe 9,000 jobs in air travel slump

Britain's government stands ready to help those affected by a plan at engine maker Rolls-Royce  to cut at least 9,000 jobs, a spokesman for Prime Minister Boris Johnson said on Wednesday.

Britain ready to support Rolls-Royce employees over job cuts

Rolls-Royce (LON: RR) announced it is forced to cut 9,000 jobs as the COVID-19 outbreak continues to paralyze the airline industry. Shares of the company have surged 6% on the announcement to trade above the multi-year lows.

Rolls-Royce stock price surges 6% on major job cuts

Rolls-Royce  plans to cut at least 9,000 jobs, or more than a sixth of its workforce, in the latest blows to the UK economy and aviation industry dealt by the coronavirus pandemic.

Britain's  Rolls-Royce to axe 9,000 jobs in air travel slump

Aircraft engine maker Rolls-Royce is cutting at least 9,000 jobs because of the collapse in demand for air travel caused by the coronavirus pandemic.

Rolls-Royce is cutting at least 9,000 jobs as the coronavirus slams aviation

Rolls Royce  could close some of its factories as part of a programme to cut 9,000 jobs in response to the crisis in the global aviation industry, its chief executive said on Wednesday.

Rolls Royce could shut some factories with job cuts programme: CEO

British aero-engine maker Rolls-Royce  said on Thursday it placed over 4,000 staff on furlough in the UK as it combats the impact of the COVID-19 pandemic on its business.

Rolls-Royce furloughs over 4,000 staff in UK amid pandemic

As per the sources, Rolls-Royce (LON: RR) is planning on cutting its workforce by up to 15% as the Coronavirus pandemic weighs on demand and pushes airlines into parking some of their planes. The sources further added that the size of the job cut has not been finalised yet as the negotiation is currently ongoing.

Rolls-Royce in negotiations to layoff up to 15% of its workers

British aero-engine maker Rolls-Royce Holdings is considering cutting up to 15% of its workforce, a source told Reuters, as customers cut production and airlines park planes due to the coronavirus pandemic.

Rolls-Royce considers cutting up to 15% of its workforce: Source

British aero-engine maker Rolls-Royce Holdings Plc  is planning to slash up to 8,000 jobs, the Financial Times reported https://www.ft.com/content/027ce53d-8770-48a6-ba7b-000d979033b0 on Friday.

Rolls-Royce to cut up to 8,000 jobs as aviation crisis bites - FT

Rolls Royce has solidified a niche position in an extremely defensible industry supported by multi-decade tailwinds.

Rolls Royce Is A Classic Cigar Butt Investment

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To cope up with the economic impacts of coronavirus outbreak, airline companies are taking initiatives like delaying deliveries of new jets. In a ripple effect, jet engine makers are bearing the brunt.

Coronavirus-Led Upheaval Puts 4 Jet Engine Makers in Trouble

U.K. engine maker Roll- Royce said it is no longer recommending a final shareholder payment of 7.1 pence per share, which will save it £137 million, and that is withdrawing its financial guidance for the year. In its civil aerospace unit, widebody flying hours fell by approximately 25% in the first quarter, fell approximately 50% in March, with an expected further deterioration in April and beyond.

Rolls-Royce scraps dividend and withdraws financial guidance

British aero-engine maker Rolls-Royce  said it was scrapping its targets and had decided against paying its last dividend, taking steps to shore up its finances as airlines around the world ground planes due to the coronavirus pandemic.

Rolls-Royce scraps targets, dividend on pandemic hit

UK aero-engine maker Rolls-Royce will abandon its targets on profits, cash and deliveries, and suspend its dividend, due to the coronavirus outbreak, the Financial Times reported late on Sunday.

Rolls-Royce to ditch targets and suspend dividend: FT

British aero-engine maker Rolls-Royce  will likely have to slash its 2020 cash flow target after airline customers parked hundreds of planes due to the coronavirus pandemic, analysts said.

Rolls-Royce targets in jeopardy as pandemic brings air travel slump

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Several European aerospace firms, Airbus and Rolls-Royce, are collaborating with other engineering firms to scale up the production of much-needed ventilators for the UK’s health system while the German Aerospace Centre is retrofitting its 3D printers to produce medical protective equipment.

European Aerospace Industry Makes Medical Equipment In Fight Against Coronavirus

Rolls-Royce will significantly reduce all non-essential activity at its civil aerospace sites in Britain for one week starting from midnight on March 27, due to the coronavirus pandemic, the company said on Friday.

Rolls-Royce to cut UK aerospace site activity for a week over coronavirus

Rolls-Royce motor cars said it would suspend production at its British plant for two weeks to ensure the health of its employees.

Rolls-Royce motor cars suspend production in UK over coronavirus

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There aren't enough ventilators for those who will need them as the coronavirus pandemic grows, but Prime Minister Boris Johnson thinks non-medical manufacturers can contribute to supplying more.

Britain Asks Automakers to Help Make Health Equipment

Britain has asked manufacturers including Ford , Honda  and Rolls Royce  to help make health equipment including ventilators to cope with the coronavirus outbreak and will look at using hotels as hospitals.

Make us ventilators to fight coronavirus, UK asks Ford and Rolls Royce

The shares of Rolls-Royce Holding p.l.c. (OTC: RYCEY) surged in Friday's trade in London as the company gave a positive outlook for the financial year 2020.

Rolls-Royce Shares Surge As Company Reports Reduced Losses In 2019, Positive Outlook

Rolls-Royce  has got to grips with a long-running engine problem and enjoyed a strong end to 2019, leaving it well placed to cope with any disruption caused by the coronavirus outbreak, it said on Friday.

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