A published report says Bombardier is expected to announce the elimination of 1,800 jobs today. La Presse in Montreal reports about 1,000 of the cuts will be made at the company’s facility in the city.
Bombardier had said last week that is was planning another round of cost-cutting to adjust to weaker demand for business jets and warned layoffs were likely in Toronto and Montreal.
New CEO Alain Bellemare told shareholders that layoffs are one tool and the company is also looking at reducing other expenses including supplier and development costs.
Lower energy prices and political turmoil in such markets as Russia, China and Brazil have sliced into the demand for Bombardier’s largest business planes, forcing it to reduce production of its Global 5000/6000 planes.
About 4,500 workers work at the Toronto assembly facility and Montreal completion centre.