Discussion posted by: David McNamara
MONTREAL — Bombardier Inc. will cut 2,500 workers from its plane-making division as demand for the company’s main source of income — private jets — plummets amid a recession and falling travel demand. Poised to take place throughout this year, the cuts will see 1,500 layoffs in Quebec and 400 in Ontario. Some 500 more are slated for Mexico, 40 in the United States, and about 60 outside North America, according to a Bombardier spokesman. The announcement comes less than three months after Eric Martel took over as CEO from Alain Bellemare, under whose watch the plane-and-train maker moved to sell off its commercial aircraft and rail divisions to prop up a balance sheet weighed down with billions in debt. The layoffs are permanent, Bombardier said.