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Bombardier layoffs in Montreal, Toronto, Belfast
CTVNews.ca Staff
Published Thursday, May 14, 2015 7:04AM EDT
Last Updated Thursday, May 14, 2015 11:04AM EDT
Bombardier Business Aircraft has announced it is cutting 1,750 jobs, including 1,000 in Montreal and another 480 in Toronto.
The Montreal-based company said that current economic conditions and political turmoil in Russia, China, and Latin America have impacted the entire industry and has meant the company has had to reduce production of its largest business jets, the Global 5000 and Global 6000.
The Montreal-based company said that current economic conditions and political turmoil in Russia, China, and Latin America have impacted the entire industry and has meant the company has had to reduce production of its largest business jets, the Global 5000 and Global 6000.
Masluch added that, despite the layoffs, the rest of Bombardier's business jet models continue to perform well.
"We've delivered the most business aircraft in Q1. So overall, our outlook is still very strong," he said from Montreal.
Bombardier has been struggling with sales of its large business planes in key emerging markets such as Russia, China and Brazil. Jet sales in Russia had been booming, but slowed after oil prices plunged and Canada, the U.S. and the European Union imposed sanctions on Russia over the Ukraine crisis.
"We've delivered the most business aircraft in Q1. So overall, our outlook is still very strong," he said from Montreal.
Bombardier has been struggling with sales of its large business planes in key emerging markets such as Russia, China and Brazil. Jet sales in Russia had been booming, but slowed after oil prices plunged and Canada, the U.S. and the European Union imposed sanctions on Russia over the Ukraine crisis.
http://www.ctvnews.ca/business/bombardier-layoffs-in-montreal-toronto-belfast-1.2373471