Bombardier set to eliminate hundreds of jobs
A report says about 1,750 aerospace jobs on the block in Toronto and Montreal.
some of its business jets.
About 1,000 of the lost jobs will be in Montreal where Bombardier has its main operations while 480 are in Toronto and 280 are in Belfast.
The cuts will begin in June and continue until the first quarter of 2016.
Bombardier says it’s reducing production of its Global 5000 and Global 6000 aircraft, the largest of its business jets, to reflect conditions in some markets such as Latin America, China and Russia.
The president of its business aircraft division, Eric Martel, said demand has been soft across the industry.
But he said in a statement that despite the short-term softness in international markets, the company’s well-positioned to be the market share leader in the aerospace sector.
Bombardier had said last week that is was planning another round of cost-cutting to adjust to weaker demand for business jets and warned layoffs were likely in Toronto and Montreal.
About 4,500 workers work at the Toronto assembly facility and Montreal completion centre.
In the first quarter of the year ended March 31, Bombardier saw its profits fall 13 per cent to US$100 million, or five cents per share.
Brad Duguid, Ontario’s economic development minister, said he was “disappointed” to learrn the Bombardier’s Toronto employees were out of work.
But he remained confident that Bombardier “will continue to be a strong global force within the aerospace sector.”
“I expect that as global factors calm and economic strength is regained across the globe, Ontario will see increased investments and job creation from companies like Bombardier.”
© 2015 The Canadian Press