Rolls Royce

Tufan Erginbilgic, who was appointed as chief executive in January, said the shake-up will make the firm ‘more streamlined’.

The Small Module Reactor (SMR) facility will be around the size of three football pitches and create more than 200 long-term jobs.

Staff at the Derby-based engineering firm will also receive a backdated 4% pay rise to help with the cost of living as inflation soars.