Engineering giant Rolls-Royce is set to make up to 8,000 job cuts, according to the Financial Times.
The reported move comes after aircraft makers Airbus and Boeing slashed production to cope with a fall in global air travel, due to the Covid-19 pandemic.
It is not yet clear how many UK jobs will be affected at Rolls-Royce, as the major manufacturer employs a global workforce in its civil aerospace engineering business, which is headquartered in Sinfin and also has a site in Hucknall.
The Financial Times says senior executives have begun work on a restructuring plan that would shrink its 52,000-strong raft of employees. It says this is according to several people inside the company.
An announcement on a final figure is reportedly not expected until later this month, Derbyshire Live reports.
The major manufacturer has now released a statement saying it will provide "further details" on the impact of coronavirus on the size of its workforce before the end of this month.
A spokeswoman for Rolls-Royce said: "The impact of the Covid-19 pandemic is unprecedented.
"We have taken swift action to increase our liquidity, dramatically reduce our spending in 2020, and strengthen our resilience in these exceptionally challenging times. But we will need to take further action.
"We have to do this right, which means we are working closely with our employee and trade union representatives and then we will consult with everyone affected.
"We have promised to give our people further details of the impact of the current situation on the size of our workforce before the end of this month."
Our sister site Business Live previously reported how Rolls-Royce was introducing a raft of cost-cutting measures to help the firm save £750 million due to the coronavirus crisis
In a trading update released to the markets on April 6, the company said that it would be reducing the salary of its global workforce by at least 10%.
The salary of its senior managers and executive team were to take a cut of 20% for the rest of 2020, comprising a 10% reduction and a 10% referral in pay.
Rolls-Royce said it was also reducing discretionary costs, such as non-critical capital expenditure projects, consulting, professional fees and sub-contractor costs, ceasing all non-essential travel and postponing external recruitment.
