Yahoo Finance Rolls-Royce: 1,000 UK jobs in the pipeline as £2.4bn in Aukus funding stumped up
More than 1,000 Rolls-Royce jobs are in the pipeline in Derby in what marks the latest UK trade boost from the engineering giant.
The most recent employment drive comes off the back of a fresh $4.6bn AUD (£2.4bn) in Aukus funding from Australia last week.
The Australian government is providing the capital over the next ten years in a bid to clear bottlenecks on Rolls-Royce’s nuclear reactor production line.
Aukus is a three-way deal between the US, UK and US to build classes of nuclear-propelled submarines and counter the threat of China in the Indo-Pacific region.
In a statement, Rolls-Royce said the new roles would cover a range of disciplines, including manufacturing and engineering. The funding will also mean new manufacturing and office facilities being built on land surrounding its Raynesway facility in Derby.
Rolls-Royce Submarines President Steve Carlier, said: “This is a truly exciting time for our business, with work secured that will see us support UK and Australian submarines well into the second half of this century.
“It will see thousands of jobs created across the UK supply chain, many of which here in Derby, and we’re proud to be playing our part in this international endeavour.”
James Cartlidge, minister for defence procurement, described the investment as “crucial” and a “significant next step” in the Aukus project.
Rolls’ submarine division has been ramping up employment across the UK. Earlier in March, it unveiled plans to create over 200 UK jobs in Cardiff and Glasgow. Alongside the Aukus deal, the subsidiary has benefited from an increase in demand from the Royal Navy and rising geopolitical tension globally.
The company’s civil aerospace unit is also set to receive £55m, creating around 200 further jobs in Derby as it looks to meet a boom in demand for aircraft engines.
East Midlands Chamber Chief Executive Scott Knowles told City A.M.: “The huge number of jobs that will be created at Raynesway is very positive news for Derby and the surrounding region.
“This added investment into the project underlines the solid commitment Rolls Royce have placed in the engineering and manufacturing expertise that Derby has in abundance. It’s tremendous to see this opportunity create many highly skilled jobs and continue to position Derby as a leading city in UK manufacturing.”
The recent announcements come despite the FTSE 100 firm’s drive to cut costs and trim debts through CEO Tufan Erginbilgic’s turnaround strategy.
Rolls last October axed six per cent of its staff globally, a decision which chimed with pay data indicating a cooling of UK labour-market pressures.
