Bombardier Inc. says it’s cutting about 5,000 jobs across the organization over the next 12 to 18 months as part of a new restructuring plan.
The cuts are expected to lead to about US$250 million in annualized savings by 2021.
The company also announced the sale of what it called a number of non-core assets.
(Sponsored)
OBJ launches the 2026 Executive Report on Cornwall
Cornwall has emerged as one of Eastern Ontario’s most compelling locations for business investment, thanks to a combination of affordability, strategic positioning, and a steadily growing economic base.
Borden Ladner Gervais LLP and partners lead with generosity
Borden Ladner Gervais LLP (BLG) are no strangers to supporting charities in the nation’s capital. From the Boys & Girls Club of Ottawa to Crohn’s and Colitis Canada to the
Bombardier has struck a deal to sell its Q Series aircraft program and de Havilland trademark to a subsidiary of Longview Aviation Capital Corp. for about US$300 million.
It also announced the sale of its business aircraft’s flight and technical training business to CAE, and the monetization of royalties for about US$800 million.
The changes came as Bombardier reported a profit of US$149 million or four cents per share in its latest quarter compared with a loss of US$100 million or four cents per share in the same quarter last year.
