Bombardier to Cut 7,500 More Jobs
Latest cuts—on top of 7,000 layoffs unveiled in February—will result in restructuring charges of US$225 million to US$275 million.
The cuts will affect 2,000 jobs in Canada, mostly in Quebec. It may be strategic for them to cut those jobs now,
before being bound by possible job protection restrictions in a future deal with Ottawa.
Wall Street Journal -- Bombardier Inc. on Friday said it would cut another 7,500 jobs, or just over 10% of its global workforce, as it focuses on turnaround efforts amid a soft business-jet market and ongoing hiccups with its CSeries jet program.
The Montreal-based plane and train maker said the cuts, to hit administrative and non-production areas across the company, are expected to save it about $300 million by the end of 2018.
“The actions announced today will ensure we have the right cost structure, workforce and organization to compete and win in the future,” said Chief Executive Alain Bellemare in a release.
The latest job cuts are on top of the 7,000 layoffs it unveiled in February, which targeted operations in both Canada and Europe and were largely split evenly between its plane and train operations. ...
In its most recent quarter, which ended in June, Bombardier swung to a net loss and posted a nearly 7% drop in revenue.
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Canada?s Bombardier to Cut 7,500 More Jobs - WSJ