Bombardier to lay off 1,600 people

2021-02-11 18:35:59 GMT2021-02-12 02:35:59(Beijing Time) Xinhua English

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OTTAWA, Feb. 11 (Xinhua) -- Canadian business giant Bombardier Inc. announced on Thursday it will reduce about 1,600 jobs to cut its costs.

The Montreal-based aerospace company announced the moves in posting its quarterly financial results, which showed the company lost 337 million U.S. dollars in the fourth quarter of 2020.

The job cuts will bring the company's total workforce down to about 13,000 people around the world.

"Workforce reductions are always very difficult, and we regret seeing talented and dedicated employees leave the company for any reason," said Eric Martel, the company's president and chief executive officer, in a statement.

"But these reductions are absolutely necessary for us to rebuild our company while we continue to navigate through the pandemic."

Bombardier, which completed the sale of its rail business to Alstom last month, also said on Thursday that it will end production of Learjet aircraft later this year, allowing it to focus on its more profitable Challenger and Global aircraft families.

"Passengers all over the world love to fly this exceptional aircraft and count on its unmatched performance and reliability. However, given the increasingly challenging market dynamics, we have made this difficult decision to end Learjet production," Martel said.

Bombardier said it will continue to fully support the Learjet fleet and launched on Thursday a remanufacturing program for Learjet 40 and Learjet 45 aircraft.

The company said 2021 will be a transition year and it expects revenue selling jets this year to be better than 2020 based on a gradual economic recovery scenario. Enditem