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ROLLS-ROYCE MOTOR CARS TO FURTHER RESTRUCTURE OPERATIONS

 ROLLS-ROYCE MOTOR CARS TO FURTHER RESTRUCTURE OPERATIONS
 CREWE, England, Sept. 24 /PRNewswire/ -- Rolls-Royce Motor Cars


today announced plans to further restructure its operations to protect against the continuing uncertain worldwide economic conditions.
 The company has announced up to 950 redundancies from its workforce based at Crewe, England.
 Chairman and Chief Executive, Peter Ward said, "I deeply regret that redundancies have to be made. Despite the very difficult worldwide trading conditions which have persisted all year, we maintained our employment levels anticipating an upturn in the second half of this year and into 1993. With no sign of any recovery, we must take this action now to protect remaining jobs and ensure that we are able to support continuing investment. These changes will give us the opportunity to return the company to profitability which is essential for our future."
 The redundancy program will effect all areas of the business and will be carried out by the end of 1992. Initially Rolls-Royce Motor Cars will seek volunteers.
 Added Peter Ward: "Against the background of two very hard years for the automotive industry and the luxury sector in particular, Rolls- Royce Motor Cars has moved over that period to become a leaner and more cost-effective business, with our production much more responsive to the needs of our customers.
 "We have significantly reduced our fixed costs to the extent that our breakeven volumes are now 50 percent of what they were two years ago. The reshaped business will now be smaller, but will be in a very good position to take advantage of opportunities for growth as prospects improve."
 -0- 9/24/92
 /CONTACT: Ian Kerr of Kerr Kelly, Inc., 203-622-1723, or home: 203-869-9347, for Rolls-Royce Motor Cars/ CO: Rolls-Royce Motor Cars ST: IN: AUT SU: RCN


TS -- NY007 -- 2910 09/24/92 07:00 EDT
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Publication:PR Newswire
Date:Sep 24, 1992
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