Engineering firm Rolls-Royce has announced that it plans to make over 4,000 redundancies over the next two years in a bid to save £400 million.
The firm, which is based in Derby, is to cut 4,600 jobs by the end of 2020 as part of a major reorganisation.
Derby’s base is expected to be hit hard by the job losses, with middle managers and back-office staff likely to be the most affected.
Rolls-Royce bosses have said these cuts will lead to a ‘simpler, leaner and more agile organisation’.
Of the 4,600 job losses, around a third of these are expected to happen by the end of this year, with the programme expected to continue throughout 2019.
Rolls-Royce has said the programme will cost £500 million to carry out, including redundancies, however will save the company around £400 million a year by the end of 2020.