The company released an internal memo stating that it is planning to gift 150 shares to 42,000 workers globally (Image: X @Rolls-Royce)

Rolls-Royce, the engineering giant announced an amazing initiative to gift every employee a share of 700 pounds (Approx. Rs 74,718). This is considered the company’s generous gesture to extend hands to the hardworking staff ensuring their stake in the company, as per the Financial Times. It was said that the company had released an internal memo stating that it is planning to gift 150 shares to 42,000 workers globally.

According to the reports, it is the first time that Rolls-Royce has given ‘company shares’ to the workers as it is planned to be distributed in coming September. The UK workers will be taxable if they try to sell the shares in 3 years but has to be kept till 5 years after distribution. This reward might cost an amount of 30 million Pounds and the company’s Chief Executive Tufan Erginbilgic will not bag the gift.

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Due to the coronavirus pandemic outbreak in 2019 and related years, the company was hit hard and confronted a harsh decline in aerospace that affected the air travel business, especially in its jet engine sales. Later, Mr Erginbilgic launched a transformation programme in 2023 January motivating employees to take it as a last chance to change.

After that, Rolls-Royce with a total of 21,000 employees in the UK disclosed its plan to cut down 2500 jobs worldwide to keep pace in the competitive space. The company foresee a more successful year and change through the collective actions of every department. Mr Erginbilgic told the employees in the memo that the results are made on account of their relentless work as they make the change happen. It is mandatory to keep your share in our success. This is why the company give you a chance to be a part of its business, he added.

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