Bombardier Inc to slash 1,750 jobs as demand for business jets dives

May 14,2015

Bombardier Inc confirmed Thursday it is laying off 1,750 workers in its Global 5000 and Global 6000 business jet program as it reduces output of its biggest business jets to bring production in line with shrinking demand from Russian oligarchs and Chinese billionaires.
The Montreal-based train and plane maker said it was cutting up to 1,000 jobs in the Montreal region, up to 480 in Toronto and up to 280 in Belfast.
Reductions will begin in June 2015 and continue progressively through the first quarter of 2016.
We have seen an industry-wide softness in demand recently in certain international markets and are taking steps to adjust our production accordingly. We fully understand the impact this will have on our affected employees and their families and we will do everything possible to support them, said Eric Martel, president of Bombardier Business Aircraft, in a release.
About 4,500 people work on the Global 5000 and 6000 programs at Bombardier facilities in Toronto, Montreal and Belfast, Northern Ireland.
Bombardier had said last week that is was planning another round of cost-cutting to adjust to weaker demand for business jets and warned layoffs were likely in Toronto and Montreal.


Source: Financialpost.com
Date: May 14, 2015