Bombardier – 7,000 jobs cut

Bombardier is implementing one of the deepest job cuts in its history by eliminating 7,000 positions — including more than a third in Canada — though it took pains Wednesday to instead train the public spotlight on a large CSeries plane order with Air Canada.

The layoffs represent close to 10 per cent of Bombardier’s global workforce and are expected to take place over the next two years, the Montreal aerospace giant said.

CEO Alain Bellemare said he believes the efforts to cut costs will help revive Bombardier, which has appealed for federal aid as it struggles to sell its signature CSeries passenger jet.

“Today I feel we have done our homework,” Bellemare said in an interview. “We are at the right place and I feel good about our ability to turn Bombardier around given these actions.

“About 3,200 of the 7,000 jobs to be eliminated will be at Bombardier Transportation, the company’s rail division. The losses will include 2,830 positions in Canada, including 2,400 mainly in Montreal, with the rest in Ontario.

The layoffs will be partly offset by hiring in certain areas, particularly as production of the CSeries ramps up, Bombardier said. Layoff notices are expected to be issued in the coming weeks and completed by next year.

Chosen excerpts by Job Market Monitor. Read the whole story at  Bombardier to reduce workforce by 7,000 positions | CTV London News