ROLLS-ROYCE has reported record losses, as its Chief Financial Officer resigned.
CFO Stephen Daintith said he would stay for a transition period, but is leaving Rolls Royce as the firms revenues for the first half of 2020 fell by £5.4 billion.
But Mr Daintith says Rolls-Royce ‘still has time’ to consider options before sell offs.
With plants in Solihull and at Ansty, the engineering giant has announced plans to cut 12,000 jobs from its workforce in the coming two years.
Rolls-Royce employs 50,000 people around the world, about half of them in the UK.
In a call to national reporters, Rolls Royce chief executive Warren East said he did not expect demand to recover to late-2019 levels for five years.
As the coronavirus crisis has enveloped the aviation sector, Coventry MPs have called for a government intervention to help save jobs at Rolls-Royve.
MPs Zarah Sultana and Taiwo Owatemi both wrote to chancellor Rishi Sunak to say: “UK manufacturing will be crucial to the country’s economic recovery from this crisis and to building the green, sustainable and prosperous economy we need. That requires protecting our skilled workforce and industrial base. Only a planned approach, which looks to the future and invests in our communities, will deliver this.”
