BUSINESS

Bombardier Job Cuts To Hit 1,750, Mostly In Canada

05/14/2015 06:53 EDT | Updated 05/14/2016 05:59 EDT
Bloomberg via Getty Images
A Bombardier logo sits on a presentation platform at Bombardier Inc.'s Litchurch Lane railcar factory in Derby, U.K., on Thursday, May 15, 2014. Bombardier's transportation unit won $8 billion of new business in the first three months of 2014 and had a record backlog of $38.4 billion, including a $2.1 billion train deal with Transport for London. Photographer: Chris Ratcliffe/Bloomberg via Getty Images

MONTREAL - Bombardier confirms it will cut 1,750 employees in Montreal, Toronto and Belfast over the coming months to adjust for weak demand for some of its business jets.

About 1,000 of the lost jobs will be in Montreal where Bombardier has its main operations while 480 are in Toronto and 280 are in Belfast.

The cuts will begin in June and continue until the first quarter of 2016.Bombardier says it's reducing production of its Global 5000 and Global 6000 aircraft, the largest of its business jets, to reflect conditions in some markets such as Latin America, China and Russia.

The president of its business aircraft division, Eric Martel, said demand has been soft across the industry.But he said in a statement that despite the short-term softness in international markets, the company's well-positioned to be the market share leader in the aerospace sector.

Bombardier said last week that it was planning another round of cost-cutting to adjust to weaker demand for business jets and warned layoffs were likely in Toronto and Montreal.About 4,500 workers work at the Toronto assembly facility and Montreal completion centre.

In the first quarter of the year ended March 31, Bombardier saw its profits fall 13 per cent to US$100 million, or five cents per share.Brad Duguid, Ontario's economic development minister, said he was "disappointed" to learn the Bombardier's Toronto employees were out of work.

But he added he remained confident that Bombardier "will continue to be a strong global force within the aerospace sector."

"I expect that as global factors calm and economic strength is regained across the globe, Ontario will see increased investments and job creation from companies like Bombardier."

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