Bombardier Cuts 1,600 Positions And Abandons Learjet... 700 In Quebec
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February 11, 2011 - by The Canadian Press for www.lapresse.ca
(Montreal) Bombardier will cut 1,600 jobs and cease production of Learjet business jets this year as part of new efforts to reduce costs and improve its financial position.
In unveiling its fourth quarter results on Thursday, the Quebec company announced a series of measures, including the continuation of the study of its options to "remedy the underutilization" of its hangars and factories in Quebec.
"Reducing the workforce is always very difficult," said the president and CEO of the aircraft manufacturer, Eric Martel, in a press release. These cuts are, however, absolutely necessary to rebuild our business as we continue to navigate the pandemic. "
The objective of the measures is to achieve savings estimated at US $ 400 million by 2023.
Bombardier had already announced, last June, the elimination of 2,500 positions.
It is expected to have around 13,000 employees by the end of the year when...
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