Bombardier Aviation announced today that it would layoff 2,5000 of its employees to align with current market conditions reflecting the extraordinary industry interruptions and challenges caused by COVID-19.
“Now with business jet deliveries, industry-wide, forecasted to be down approximately 30% year-over-year due to the pandemic, Bombardier must adjust its operations and workforce to ensure that it emerges from the current crisis on solid footing,” the company said in a statement.
The statement went to say that Bombardier Aviation has made the decision to reduce its workforce by approximately 2,500 employees. The majority of these reductions will impact manufacturing operations in Canada and will be carried out progressively throughout 2020. Bombardier’s worldwide customer service operations have continued to operate largely uninterrupted throughout the pandemic.
Bombardier expects to record a special charge of approximately $40M in 2020 for this workforce adjustment and will provide further information on its market outlook when it reports its second quarter financial results on August 6.
