5,000 jobs to be cut at Bombardier in business’s “streamlining”

Bombardier

In it’s third quarter results Bombardier has announced that it will be getting rid of 5,000 jobs globally, putting Derby employees at threat.

The announcement of the business’s restructuring states: “Bombardier has launched a company-wide restructuring initiative focused on optimizing production and management processes, flattening management structures and further reducing indirect costs.

“Collectively, these actions will result in a reduction of approximately 5,000 positions across the organization over the next 12 to 18 months, leading to annualized savings of approximately $250 million at full run rate, which we expect by 2021. Bombardier anticipates recording a restructuring charge in 2019 of approximately the same amount as special items.

“In parallel, the Company continued to strengthen its leadership team, with the appointment of Sam Abdelmalek as Chief Transformation and Supply Chain Officer in October. Bombardier also announced today that Danny Di Perna has been appointed President, Aerostructures and Engineering Services (BAES), effective immediately. Michael Ryan will assume the role of Chief Operating Officer for BAES. Together, they will focus on accelerating productivity, achieving world-class financial and operational performance, and delivering on the Company’s growth potential.”