Fears For Bombardier Jobs In Northern Ireland

Bombardier

"With our heavy investment cycle now completed, we continue to make solid progress executing our turnaround plan", Bombardier Inc.

Bombardier union calls the moves unfortunate and distressing Simon Letendre a spokesperson for Bombardier, confirmed 500 jobs will be cut in Ontario.

In a news release reporting its third quarter financial results, the company said the reduction in staff will take place across the organization over the next 12 to 18 months, "leading to annualized savings of approximately $250 million at full run rate, which we expect by 2021".

United Kingdom junior transport minister quits over 'terrible mistake' of Brexit deal
The choice being presented to the British people was no choice at all, he said in an online article, announcing his resignation. It is a surrender of control. "My brother Boris.is as unhappy with the government's proposals as I am", he said.


Bombardier also launched a new enterprise-wide productivity programme to further streamline, lean out and simplify the company. President and CEO Alain Bellemare said in a statement.

The company said it forecast 2019 revenue to grow by 10 per cent to US$18 billion or more, driven by a pickup in deliveries of its Global 7500 business jets. In a conference call with investors this morning, John Di Bert, the chief financial officer of Bombardier said that the announced actions were created to show that the company's focus was on efforts to grow earning and cashflows saying: "We continue taking concrete actions to reshape Bombardier's portfolio".

Bombardier Inc is set to announce the sale of its Q400 turboprop aircraft program to Canadian aircraft manufacturer Viking Air, a person familiar with the matter said late on Wednesday. "On the CRJ, the focus is still on reducing cost and selling aircraft today".

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The Afghan government's rejection to participate in the meet on September 4 has been speculated to be a result of USA pressure. The Taliban "does not recognise the current government as legal and therefore we won't hold talks with them", he added.


Karl Moore, an aviation expert at McGill University's Desautels Faculty of Management, said the layoffs and selloffs will allow Bombardier to shift away from regional jets and shrink its debt. "We can not accept any further losses of functions from Northern Ireland, they are undermining the long-term sustainability of the company's presence here", she said.

The company also reported third-quarter results on Thursday morning, with quarterly revenue falling 5% year-over-year to $3.64 billion USA and an adjusted profit of US$0.04 per share. Sales fell 5.1 per cent to US$3.64 billion, compared with the average estimate of US$3.87 billion.

Bombardier says the deals with Longview and CAE will amount to $900 million in net proceeds.

Republicans maintain grip on the US Senate in midterm vote
Nor are Democrats likely to craft a governing coalition so long as they cleave to the country's increasingly discredited elites. Pelosi is nationally unpopular, and Republicans have often tied Democratic House candidates to her agenda to win races.


The Q400 series is a "natural fit" for Longview Aviation Capital, chief executive David Curtis said in an interview.

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