Rolls-Royce Is Looking For a Cheaper London HQ

Rolls-Royce Holdings Plc plans to quit its headquarters in one of London’s swankiest districts for cheaper offices as the company seeks to bring down long-term expenses and cover the more immediate costs of fixing a faulty jet-engine model. Rolls-Royce needs a “smaller, more cost-effective London head-office location” than the current premises midway between the Houses of Parliament and Buckingham Palace, Chief Executive Officer Warren East said in a memo to staff obtained by Bloomberg. Chief Operating Officer Simon Kirby, who only took over the role in late 2016, will meanwhile leave, East said, adding that the executive had demonstrated “his professionalism” by developing a leaner business that effectively resulted in his own role being eliminated.