Bombardier to cut 7,500 jobs

Canada's Bombardier said Friday it was cutting around 7,500 jobs by the end of 2018 as the aircraft and train manufacturer tries to cut costs and boost productivity as part of a turnaround plan. "The actions announced today will ensure we have the right cost structure, workforce and organisation to compete and win in the future," chief executive Alain Bellemare said in a statement about the measures that aim to produce $300 million in recurring savings.
The cuts, to hit mostly administrative posts, follow the announcement in February of 7,000 cuts to manufacturing jobs. Together, they represent about 20 percent of Montreal-based Bombardier's workforce. The government of Quebec came to the rescue of Bombardier last year, giving it $2.5 billion for a 49.5-percent stake in its C Series plane program and 30 percent of its rail unit.