Bombardier cutting 7,500 jobs globally

[Gone_Fishin]

Bombardier cutting 7,500 jobs globally, including 2,000 in Canada

Ross Marowits, The Canadian Press

MONTREAL -- A second large wave of job cuts is hitting Bombardier workers in less than a year as another 7,500 positions are to be eliminated around the world through the end of 2018.

About 2,000 positions will be cut across Canada, including 1,500 in Quebec. Two-thirds of the global positions will be in transportation and nearly 2,500 in aerospace.

In February, the Montreal-based plane and train maker announced plans to cut 7,000 positions by the end of 2017, including up to 2,000 contractors and 800 production development engineers.

snip

Bombardier has received a US$1-billion investment in the CSeries from the Quebec government, sold a 30 per cent stake in Bombardier Transportation to Quebec's pension fund manager, the Caisse de depot, and has requested a US$1-billion infusion from the federal government.

Federal Innovation Minister Navdeep Bains said Ottawa's investment in the aerospace giant is not a matter of if but how will be done.

Article http://www.bnn.ca/bombardier-cutting-7- ... ODE4NzQzS0

[Rwede]

Nice. Trudeau is going to hand over $1 billion of our money to buy votes in Quebec even though 7,500 people are losing their jobs.

Does the idiot ever think that perhaps putting a small condition on his, err, our generous gift, like keeping Canadians employed MIGHT be a better idea?

Reckless. Totally reckless.

[fvkasm2x]

Which is funny, because there are way way way more than that in the farming and oil/gas sector out of work recently and the solution to those problems is a carbon tax.

[Gilchy]

Propping up Bombardier seems to be a rite of passage for Quebec and Federal governments. Trudeau is hardly the first PM to pump money into the company, Harper's gov't put in $350m back in 2008.

I never realized how big the company is - the 7500 job cuts (of which 2000 are in Canada) represent only 10% of their total employees. Doesn't change the fact that it stinks though.

[fluffy]

There is actually a pretty interesting story in this. First off, it's worth pointing out that the 7500 global lay-offs are being countered by 3700 "strategic hirings" as production ramps up on Bombardier's C-Series passenger jet. This single-aisle 100-135 passenger jet is described as a regional jet with trans-continental capabilities and goes into direct competition with Boeing's 737 and the Airbus A320. These two giants in aircraft manufacture recognized the threat that this upstart former ski-doo builder was bringing in to their market simply by the fact that Bombardier had a better product. The C-Series was more efficient financially, more dependable and was more comfortable with larger seats. This lead to some ethically questionable moves on the part of the bigger competitors in their attempts to squeeze the smaller operator out of the picture, but business is business and some aggressive moves with corporate restructuring allowed Bombardier to stay afloat long enough to convince buyers of the merits of their product over their competitiors and win some impressive supply contracts.


http://www.forbes.com/sites/scotthamilton5/2016/06/29/david-vs-two-goliaths-bombardier-takes-on-airbus-and-boeing/#50bcffa65666

[Atomoa]

*removed*