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Manufacturing Rolls-Royce cuts jobs despite soaring profits

ENGINE maker Rolls-Royce will make further job cuts despite announcing a £4.9 billion annual profit yesterday.

Rolls-Royce boss Warren East said it was too early to say how many jobs will be affected but the company would cut out duplicate roles in its support and management functions.

He stressed that the engineer workforce would be unaffected, with plans to invest £1.4 billion in research and development and to hire engineers and technology experts.

Mr East said the firm had made “good progress in 2017” but ongoing restructuring was necessary to “make ourselves truly competitive and fit for the future.”

The proposed job cuts will be imposed despite a return to profit last year, recovering from a record £4.6bn loss in 2016 caused by a plunge in the value of the pound and a corruption scandal which saw it pay out £671m to British, US and Brazilian authorities to settle bribery cases.

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