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)
Giving Guide 2025: Ottawa Regional Cancer Foundation
As Ottawa’s only Community Cancer Hub, we are delivering Supportive Cancer Care through dynamic collaborations with over 70 diverse community partners.
In a tough economy, investing in community is more important than ever
When finances are tight, it might seem counterintuitive to give back, but supporting our most vulnerable neighbours this holiday season can actually help businesses weather their own challenges. At United
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.
