New York (CNN Business)Canadian aircraft maker Bombardier announced plans to cut 5,000 jobs as part of an effort to streamline operations and reduce costs.
WICHITA, Kan. (KWCH/CNN) Canadian aircraft maker Bombardier announced plans to cut 5,000 jobs as part of an effort to streamline operations and reduce costs.
The Montreal-based company said it will sell its Q400 turboprop aircraft program to a subsidiary of Longview Aviation Capital for about US$300 million. The Montreal-based company also announced the sale of its flight training business to CAE for about US$645 million.
Canadas Bombardier says it will cut 5,000 jobs
Bombardier Inc. spokesman Simon Letendre says the jobs will be eliminated over the next 12 to 18 months.
Most of the cuts are planned for Canada, which will be 3,000 jobs. The rest of the roughly 2,000 jobs cuts will come from other locations around the U.S.
In a statement, the company said: “Following Bombardiers announcement today [Thursday], we will take the necessary time to evaluate what this means for our aerostructures and engineering services business. We will communicate with our employees in more detail over the coming weeks.
“The company is focusing on business aircraft, so that should be considered a positive for Wichita.The 5,000 job cuts come from streamlining the organization across the board,” Letendre said.