Canadian business jet maker Bombardier Inc said on Friday it would cut 2,500 jobs at its aviation unit and take a related charge of $40 million this year, as the COVID-19 pandemic hurts sales.
“Now with business jet deliveries, industry-wide, forecasted to be down approximately 30% year-over-year due to the pandemic, Bombardier must adjust its operations and workforce to ensure that it emerges from the current crisis on solid footing,” the company said.
The company is in the process of selling its rail business to French TGV high-speed train maker Alstom for up to 6.2 billion euros , and said last month that the deal has not been affected by the coronavirus crisis.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock futures idle as S&P 500 looks to extend longest winning streak since February
Read more »
DeSantis will send 500 National Guard troops to WashingtonGov. Ron DeSantis said he will send 500 members of the Florida National Guard to Washington at the request of the U.S. Department of Defense
Read more »
Wall Street's rally rolls on; S&P 500 back within 8% of highStocks bubbled even higher on Wednesday, vaulting Wall Street back to where it was just one week after it set its all-time high earlier this year, as optimism builds that the economy can climb out...
Read more »
This is the greatest 50-day rally in the history of the S&P 500The S&P 500 has returned 37.7% over the last 50 trading days, making it the benchmark index's largest 50-day rally in history, according to LPL Financial.
Read more »
Aston Martin to shed up to 500 jobs in cost cutting driveBritish luxury carmaker Aston Martin plans to shed up to 500 jobs as it seeks to bring its cost base into line with reduced sports car production levels, it said on Thursday.
Read more »
Retail investors are the least bearish since the S&P 500 record highRetail investors seem to have already forgotten the COVID-19 pandemic, as they are now the least bearish since the S&P 500 undefined reached its record close...
Read more »