Bombardier cuts 5,000 jobs globally

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Bombardier is cutting 5,000 jobs globally in a bid to “streamline” its operations.

The struggling Canadian plane and transportation manufacturer said the cuts would be made over the next 12 to 18 months.

It will also sell its Q Series aircraft programme for $900m (£687m) and the de Havilland trademark for $300m.

It was unclear if jobs at Bombardier’s UK operations, such as its Belfast headquarters, would be affected.

The firm employs 69,500 people globally, including 4,000 in Belfast.

“We have set in motion the next round of actions necessary to unleash the full potential of the Bombardier portfolio,” said chief executive Alain Bellemare.

Earlier this year, Bombardier sold a majority stake in its loss-making C-Series aircraft to Europe’s Airbus, with the plane being renamed the A220.

The announcement came as Bombardier unveiled its third-quarter earnings figures.

The company reported pre-tax profits of $267m for the three months to the end of September, compared with $133m a year earlier.

It also forecast revenue growth of 10% in 2019 to at least $18bn.

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