Rolls-Royce boss Tufan Erginbilgic is set to unveil his turnaround plan for the beleaguered jet engine maker alongside the company’s annual results on Thursday.
The new chief executive, who took over on January 1, is expected to cut jobs as part of a wide-ranging shake-up.
Plan: Rolls-Royce struggled during the pandemic, but Tufan Erginbilgic believes it had problems long before then
The former BP executive has already indicated he is willing to take a hard line. In a recent address to staff, he reportedly described the company as a ‘burning platform’ and said it only has a ‘last chance’ with investors.
Rolls – which also works on nuclear technology and defence contracts – struggled during the pandemic, but Erginbilgic believes it had problems long before then. His predecessor Warren East oversaw two revamps.
Analysts reckon the firm will move to a profit of £198 million from a loss.
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