Well the other shoe dropped...
Bombardier misses expectations, will layoff 7,000 staff, announces reverse stock-split, reduces 2016 estimates.
Excerpts from
CBC:
Bombardier to cut up to 7,000 jobs over 2 years
Montreal-based Bombardier plans to cut its workforce by up to 7,000 people even as the airline has finally signed a deal to sell its CSeries jets to a major North American airline.
Bombardier said Wednesday up to 2,000 of the total cuts will be contractors. Most of the job losses will be in Canada and Europe and be partly offset by hiring in certain areas, such as its new CSeries aircraft program.
Bombardier also announced plans to consolidate its shares, which have sold off heavily on the TSX since the start of 2015 as CSeries delays began to mount.
But under Bombardier's new proposal to shareholders, the company will do a reverse stock split that will consolidate shares and put the individual price of each one to between $10 and $20.