Power system supplier Rolls-Royce Holdings said it will cut 600 jobs in its Marine business area in order to accelerate cost-reduction programmes.
“We have today announced that we will accelerate cost-reduction programmes in our Marine business and reduce the number of employees by a further 600 by the end of this year in response to challenging market conditions,” the company said in a statement.
“The Marine business employs around 6,000 people in 34 countries, and while the reductions will be global, around half will be in Norway, where the majority of employees and manufacturing facilities are located,” the company said.
The London-based group’s marine business is headquartered in Ulsteinvik, Norway. At the turn of the millennium, Rolls-Royce acquired Vickers, another UK company that had just acquired the marine equipment business of the Ulstein group, hence the business’s Norwegian base.