Rolls-Royce (LON: RR) announced it is forced to cut 9,000 jobs as the COVID-19 outbreak continues to paralyze the airline industry. Shares of the company have surged 6% on the announcement to trade above the multi-year lows. Fundamental analysis: Expected cuts in the civil aerospace division Rolls-Royce, a major producer of airplane engines, said it is cutting 9,000 jobs in response to the COVID-19 outbreak that completely paralyzed the airline industry. The majority of staff cuts will be made in the civil aerospace unit. The job cuts and other cut-costing activities in plants and properties will save the company around
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