Rolls-Royce has announce its plans for cutting 600 jobs in its marine unit due to "challenging market conditions" related to the “the effect of low oil prices”.

The reduction, which it to take place bu the end of the current year, will be global, but 50 % will be in Norway as there are located most manufacturing and employees.

Currently, the marine unit of Rolls-Royce has nearly 6,000 employees located in 34 countries around the globe.

The president of the marine division with Rolls-Royce, Mikael Makinen, commented:

"The future prospects for the marine business remain bright, and we are focused on maintaining our position as a technology leader, but we must drive further cost reduction today so that we are ready to grow tomorrow."

The company has already placed in progress its programmes to consolidate manufacturing at several locations including the US, UK, South Korea, Norway and Sweden.

In a statement from last November, Rolls-Royce had unveiled plans to cut headcounts jobs by 2,600 – mainly in the aerospace division of the company.