Manufacturing Industry
Bombardier to cut 60 office jobs
Airline Industry Information, Jan 21, 2005
AIRLINE INDUSTRY INFORMATION-(C)1997-2005 M2 COMMUNICATIONS LTD
Bombardier Inc is to cut 20% of the jobs at its head office.
The aircraft and train manufacturer has said that it will cut 60 of the 300 corporate office jobs. The cut is part of a reorganisation plan, Reuters reported. The plan has been revealed just over a month after the CEO of the company left suddenly.
Apparently 15 of the 60 jobs to be cut are already vacant. Severance pay and other costs have been estimated at about USD9m and are expected to be part of the normal expenses of operation for this fiscal year, ending 31 January. The expected annual savings from the cuts are USD14m.
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