Rolls-Royce statement on the impact of COVID-19

“The impact of the COVID-19 pandemic is unprecedented. We have taken swift action to increase our liquidity, dramatically reduce our spending in 2020, and strengthen our resilience in these exceptionally challenging times. But we will need to take further action. We have to do this right, which means we are working closely with our employee and trade union representatives and then we will consult with everyone affected.

We have promised to give our people further details of the impact of the current situation on the size of our workforce before the end of this month.”

About Rolls-Royce Holdings plc

  1. Rolls-Royce pioneers cutting-edge technologies that deliver clean, safe and competitive solutions to meet our planet’s vital power needs.
  2. Rolls-Royce has customers in more than 150 countries, comprising more than 400 airlines and leasing customers, 160 armed forces, 70 navies, and more than 5,000 power and nuclear customers.
  3. Annual underlying revenue was £15.3 billion in 2019, around half of which came from the provision of aftermarket services.
  4. In 2019, Rolls-Royce invested £1.45 billion on research and development. We also support a global network of 29 University Technology Centres, which position Rolls-Royce engineers at the forefront of scientific research.
  5. The Group has a strong commitment to apprentice and graduate recruitment and to further developing employee skills.

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