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Bombardier to cut 2,500 aviation jobs as pandemic dents travel demand

Added 06-05-20 10:03:02am EST - “Canadian plane and train maker Bombardier Inc said on Friday it would cut 2,500 jobs, or about 11% of the workforce at its aviation unit, as the coronavirus pandemic's crushing impact on the air industry adds to its long list of problems.” - Reuters.com

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Posted By TheNewsCommenter: From Reuters.com: “Bombardier to cut 2,500 aviation jobs as pandemic dents travel demand”. Below is an excerpt from the article.

(Reuters) - Canadian plane and train maker Bombardier Inc (BBDb.TO) said on Friday it would cut 2,500 jobs, or about 11% of the workforce at its aviation unit, as the coronavirus pandemic’s crushing impact on the air industry adds to its long list of problems.

The aviation industry has been among the worst hit by the pandemic, which has dented travel demand and forced several aircraft manufacturers, including planemakers Boeing Co (BA.N) and Airbus SE (AIR.PA), to cut production as customers defer deliveries.

“We are now faced with the difficult decision to adjust the size of our business, considering both disruptions in our supply chain as well as industry-wide forecasts calling for approximately 30% year-over-year drops in unit deliveries due to the pandemic,” David Coleal, president of Bombardier Aviation, said in a memo to workers about the layoffs which was seen by Reuters.

Bombardier Aviation spokesman Mark Masluch said the company is starting to scale back production, but he would not give specifics.

Bombardier, which has nearly 60,000 employees at its aviation and rail units, said it would book a $40 million charge related to the job cuts.

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