Rolls-Royce has said it will cut 9,000 jobs and warned it will take “several years” for the airline industry to recover from the coronavirus pandemic.
The firm, which makes engines for planes, said the losses would mainly affect its civil aerospace division.
Chief executive Warren East said: “This is not a crisis of our making. But it is the crisis that we face and we must deal with it.”
Rolls-Royce expects the worldwide cuts to achieve costs savings of £700m.
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Mr East told Radio 4’s Today Programme the company hadn’t yet concluded on “exactly” where the job losses will be due to having to consult with unions.
But he said: “It’s fair to say that of our civil aerospace business approximately two thirds of the total employees are in the UK at the moment and that’s probably a good first proxy.”