Bombardier Ramps Up Restructuring, 7,500 Jobs To Go

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Photo: bbci.co.uk

Bombardier has announced a further round of job cuts with 7,500 positions to go, about two-thirds from the German train division, the rest from aerospace.

The company expects to achieve recurring savings of approximately USD$300 million by the end of 2018, it said in a statement.

Bombardier will take USD$225 million to USD$275 million in charges for the restructuring from the fourth quarter of 2016.

“While restructuring is always difficult, the actions announced today are necessary to ensure Bombardier’s long-term competitiveness and position the company to continue to invest in its industry leading portfolio,” chief executive Alain Bellemare said.

The job losses will be partially offset by staffing up some aerospace programmes, including the CSeries airliner and Global 7000 executive jets.

In February Bombardier announced 7,000 job losses, a tenth of its workforce, over the next two years.

Source: news.airwise.com

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