Rolls-Royce has said it will cut 9,000 jobs and warned it will take "several years" for the airline industry to recover from the coronavirus pandemic, Report informs, citing BBC.
The Derby-based firm, which makes plane engines, said the reduction of nearly a fifth of its workforce would mainly affect its civil aerospace division.
"This is not a crisis of our making. But it is the crisis that we face and must deal with," boss Warren East said.
Rolls-Royce employs 52,000 people globally, and Mr. East told the BBC's Today program that the company had not yet concluded on "exactly" where the job losses would be due to having to consult with unions.
As well as the job losses, the company said it would cut costs in areas such as plants and properties. It expects to make cost savings of £1.3bn.