Rolls-Royce offers cash to workers facing high cost of living [FOX Business Network]
ROLLS ROYCE HLDGS S/ADR (RYCEY)
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Source: FOX Business Network
British aircraft engine maker Rolls-Royce Holdings said it was offering a cash lump sum of 2,000 pounds ($2,458) to about 70% of its UK workforce to help them navigate high living costs. Britain's economy initially rebounded strongly from the COVID-19 pandemic but is now battling high living costs worsened by a combination of labour shortages, supply chain disruptions, post-Brexit trade problems and war in Ukraine. The UK aero-engine group said that it would give the cash lump sum to 11,000 shop-floor workers as well as 3,000 junior managers. In an emailed statement to Reuters, a Rolls-Royce spokesperson said the company was also offering a 4% pay rise back dated to March to 11,000 UK shopfloor workers. FERRARI ISN'T KILLING ITS GAS-POWERED ENGINES ANYTIME SOON Rolls Royce Trent XWB engines, designed specifically for the Airbus A350 family of aircraft, are seen on the assembly line at the Rolls Royce factory in Derby, November 30, 2016. (REUTERS/Paul Ellis/Pool) ((REUTERS/P
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