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Bombardier halting production of Learjet, cutting 1,600 jobs as COVID-19 hits demand Bookmark Please log in to listen to this story. Also available in French and Mandarin. Log In Create Free Account
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DAVID BECKER/Reuters
Bombardier Inc. is ceasing production of its Learjet luxury aircraft later this year and slashing another 1,600 jobs as the Canadian manufacturer tries to stabilize its business amid a global health crisis.
The moves are part of an overall effort to shave US$400-million in annual costs by 2023 and come in addition to a plan announced in June to cut 2,500 jobs, the Montreal-based company said in its fourth-quarter earnings release Thursday. Its goal is to be able to operate profitably in the months ahead and set itself up for an economic recovery.