Bombardier Aviation announced today that it would adjust its workforce to align with current market conditions reflecting the extraordinary industry interruptions and challenges caused by COVID-19.
When the pandemic first arose, Bombardier Aviation responded quickly, suspending manufacturing operations to support local government efforts to slow the spread of the virus and to protect the health and safety of employees, partners and customers. Over the past month, Bombardier Aviation guided by health professionals and industry best practices, implemented comprehensive procedures and safeguards to further protect employees and communities as manufacturing operations resumed. 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.
Accordingly, Bombardier Aviation has made the difficult 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, 2020.
With nearly 60,000 employees across two business segments, Bombardier is a global leader in the transportation industry, creating innovative and game-changing planes and trains. Our products and services provide world-class transportation experiences that set new standards in passenger comfort, energy efficiency, reliability and safety.
Headquartered in Montreal, Canada, Bombardier has production and engineering sites in over 25 countries across the segments of Aviation and Transportation. Bombardier shares are traded on the Toronto Stock Exchange (BBD). In the fiscal year ended Dec. 31, 2019, Bombardier posted revenues of $15.8 billion. News and information at bombardier.com or follow us on Twitter @Bombardier.
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