Bom­bardier to lay off 5,000

India Business Journal - - GLOBAL WRAP-UP -

Mon­treal, Canada-based Bom­bardier, a multi­na­tional maker of air­planes and mass trans­porta­tion equip­ment, has said that it will fire 5,000 work­ers, about 7 per cent of its work­force. The com­pany "has launched a com­pany-wide re­struc­tur­ing ini­tia­tive, fo­cused on op­ti­mis­ing pro­duc­tion and man­age­ment pro­cesses, flat­ten­ing man­age­ment struc­tures and fur­ther re­duc­ing in­di­rect costs," Bom­bardier has said in a me­dia re­lease. Col­lec­tively, these ac­tions will re­sult in a re­duc­tion of ap­prox­i­mately 5,000 po­si­tions across the or­gan­i­sa­tion over the next 12 to 18 months, lead­ing to an­nu­alised sav­ings of ap­prox­i­mately $250 mil­lion, the com­pany has added.

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