Bombardier Plans to Shed Thousands of Jobs Through 2018

bombardierBombardier will eliminate another
7,500 jobs across its aircraft and rail businesses through 2018, the
Canadian company said Friday.

The actions are part of the Montreal-based company?s five-year turnaround plan announced last year.

Those actions include streamlining its administrative
and non-production functions company-wide and creating centers of
excellence for design, engineering and manufacturing in the aircraft and
rail operations.

Two-thirds of the cuts will be in Bombardier?s transportation division, which is its rail business.

?While restructuring is always difficult, the actions
announced today are necessary to ensure Bombardier?s long-term
competitiveness and position the company to continue to invest in its
industry leading portfolio while also deleveraging its balance sheet,?
Bombardier CEO Alain Bellemare said in a news release.

It?s not yet clear how the plan will affect jobs at
Bombardier?s Wichita site, which includes a business jet service center,
flight test center and the Learjet plant.

Bombardier Business Aircraft spokesman Mark Masluch
said the company isn?t yet disclosing site-specific job cuts, although
2,000 jobs will be eliminated in Canada and 5,500 at its sites outside
of Canada, including the U.S.

Bombardier also has significant operations in Germany
and Mexico. The company expects to reach recurring savings of $300
million through these latest actions.

Bombardier said job cuts will be partially offset by
?strategic? hires for its C Series airliner and Global 7000 business jet
programs as well as in its rail business. That would also extend to the
company?s jet service centers, Masluch said.

?As much as possible, we want to offset the impact of this decision,? he said.

(Source: TNS)