11:01, UK, Thursday 29 June 2017 It is creating a new facility in Derby for testing large aero engines, resulting in up to 200 jobs, while plans to close a precision machining facility in the town have been scrapped, saving 150 jobs that had previously been at risk.
They have agreed workers can help train new staff who will be based in Germany and elsewhere, in return for a guarantee, covering 7,000 East Midlands-based employees, of no compulsory redundancies over the next five years.
Eric Schulz, Rolls-Royce president for civil aerospace, said: "With this investment, we are creating the capacity and flexibility to deliver on our goals, while committing to sustain employment in the UK." Unite national officer Ian Waddell said: "There were real fears that future investment could go overseas, but thanks to the skills, capabilities and adaptability of Rolls-Royce's UK workforce, thousands of jobs have been secured." Earlier this year it reported its biggest ever annual loss, slumping into the red by £4.6bn for 2016 thanks to a huge accounting writedown caused by the collapse in the pound since the Brexit vote.
Meanwhile it has agreed to pay out £671m to settle bribery and corruption probes in the UK, US and Brazil, including a record £497m penalty from Britain's Serious Fraud Office.
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