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Bombardier – 1,800 jobs to be cut

Bombardier Aerospace president and CEO Guy Hachey is retiring after six years in the post amid a restructuring of its operations that will result in the layoff of 1,800 employees.Capture d’écran 2014-07-23 à 17.48.47

The Montreal-based company (TSX:BBD.B) says its aerospace division will operate in three segments — business aircraft, commercial aircraft and aerostructures and engineering services — each headed by an executive. The railway segment based in Germany remains intact.

Hachey, 59, took over the aerospace division in 2008 following a 30-year career in the automotive industry with General Motors and Delphi Automotive Systems.

He’s leaving the company as its new CSeries commercial aircraft remains grounded following an engine incident at the end of May. The aircraft has undergone several delays and is now expected to be delivered in the second half of next year.

In a release issued Wednesday after markets closed, Bombardier said Hachey was retiring “as a result of this reorganization.”

 

Chosen excerpts by Job Market Monitor. Read the whole story at Bombardier aerospace CEO retires amid restructuring that will see 1,800 jobs cut.

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