In a bid to increase profits, Rolls-Royce to lay off 4,600 employees

Luxury car maker Rolls-Royce is planning to cut 4,600 jobs over the next two years in an effort to cut costs and maximize profit, according to CEO Warren East. Reuters reports that East wants to overhaul the brand's image and focus on its aviation engineering sector.

The job cuts are the largest yet for Rolls-Royce since 2001 when an aviation crisis took place after the 9/11 attacks. The roles being removed are largely in the corporate and management area of the company and will save an estimated $536 million by 2020. "We have to significantly reduce the size of our corporate center, removing complexity and duplication that makes us too slow, noncompetitive and too expensive," said East to reporters.

The cuts will remove at least 10% of the Rolls-Royce workforce worldwide.

Mike Huckabee tweets photo of MS-13 members, refers to them as Nancy Pelosi's "campaign committee"
Sarah Huckabee-Sanders kicked out of Lexington, Virginia restaurant
Saudi females gearing up to drive legally this Sunday fear harassment from religious men
Suit alleges 123 asylum-seekers have been held in cells 23 hours a day, denied lawyers
Time Magazine issues major correction concerning photo of Honduran crying girl
House passes ambitious plan to tackle opioid crisis
Chinese island considering lifting social media censorship for foreigners
Apple finally acknowledges faulty MacBook and MacBook Pro keyboards, offers free repair program
Police report: Safety operator in self-driving Uber crash was 'watching TV'
Floating robotics factory will build satellites and spaceships in space
Explained: Akon announces plans to build a "real-life Wakanda" using his own cryptocurrency
Explained: Supreme Court rules warrants are necessary for cell phone tracking data
Quick-thinking bank teller tricks robber into handing over his own ID
Seabirds starving to death: stomachs so full of plastic pollution there's no room for food
Japan's World Cup fans almost caused a plumbing disaster during halftime
Defunct crypto exchange Mt Gox enters civil rehabilitation, account holders expected to get Bitcoin back
Crypto market down 8%-20% in 24 hours, reason behind the dip unclear
Robinhood's crypto trading platform is operating as a break-even business
Selfies show worm slithered through woman’s face for 2 weeks
Pulitzer Prize winner Charles Krauthammer has died
Two Google Street View cars to be equipped to read London air pollution
SpaceX’s Falcon Heavy rocket wins Air Force certification and a $130 million satellite launch contract
University of Michigan outdoes IBM with world's smallest 'computer'
Bose introduces wireless earbuds to help people sleep better
Mexico fined $10,000 for anti-gay chants in World Cup
Argentina faces world cup elimination after losing 3-0 to Croatia
Father faces probation for rescuing son from a burning car during local NASCAR race
Vinnie Paul, Pantera legend and co-founder, dies at 54
ABC picks up "The Conners" a "Roseanne" spinoff without Roseanne Barr
John Oliver blocked on Chinese social media platform Weibo after mocking President Xi Jinping
Legendary astronaut Buzz Aldrin sues family alleging fraud
Trump says North Korea is still an 'extraordinary threat'
Zimbabwe president escapes assassination attempt