Rolls-Royce Holdings plc is a multinational aerospace and energy company that specializes in the manufacture of aircraft engines, and power systems for the aviation industry. Headquartered in London, UK, the company was initially formed in 1904 by Henry Royce and Charles Rolls. As of 2018, the company was the 16th largest defence contractor in the world by defence revenue.
According to recent reports, Rolls-Royce Holdings has announced plans to lay off 2,500 employees in a bid to create a more effective and efficient workplace. The job cuts will supposedly affect the teammates in the power systems engine-building division of the company.
