Rolls-Royce remains "committed" to UK despite Brexit vote

Jake Cordell
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The engineering giant says there will not be an immediate change
The engineering giant says there will not be an immediate change (Source: Getty)

British engineering giant Rolls-Royce is staying put in the UK - at least for now - despite the result of last week's referendum.

The engine maker issued a calming statement to the markets before trading opened this morning saying that the vote will not lead to job losses, restructuring or relocation.

"Although this is not the outcome the company would have chosen, Rolls-Royce remains committed to the UK where we are headquartered, directly employ over 23,000 talented and committed workers and where we carry out a significant majority of our research and development.

"The UK's decision will have no immediate impact on our day-to-day business," the company said.

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The commitment not to react hastily to the UK's decision should settle nerves that the UK's decision to leave the EU would trigger a corporate exodus.

Rolls-Royce added, however: "The medium and long-term effect will depend upon the relationships that are established between the UK, the EU and the rest of the world over the coming years."

The engineering firm has emerged largely unscathed in the market turmoil since Thursday's vote. Shares are currently trading at 665p - up three per cent from their levels before the vote.