Bombardier Cuts 2,000 Jobs In Aerospace Branch

By Agence France-Presse and staff reports Canada's Bombardier Inc., citing cost-cutting "in the current economic context," says its aerospace branch will begin eliminating 1,980 positions next month at facilities in the United Kingdom, Canada and the United States. Those positions represent about 6% of Bombardier Aerospace's total workforce. Bombardier Aerospace says the job cuts, 20% of which are management positions, will be accompanied by commensurate production cuts in the affected facilities. Bombardier reports that its aerospace branch, which specializes in regional, business and amphibious aircraft, has been particularly hard-hit by the world economic situation. The job cuts mainly will hit plants in Belfast, Northern Ireland, where 240 jobs stand to be cut; in Montreal (915); Toronto (365); Tucson, Ariz. (210); and Wichita, Kan. (50), says the company, adding that 200 jobs will be eliminated in other sites. In addition, the Montreal-based company's Toronto plant, which produces turbo-prop planes and twin-engine jets, will stop all production for six to eight weeks beginning at the end of November, resulting in the layoff of some 1,600 workers. Learjet production in Wichita will be stopped for four months beginning in December, with the layoff of some 500 workers. In related news, Bombardier says it intends to reduce Bombardier Capital's assets under management by approximately $5 billion, mainly through the sale and gradual wind-down of the receivable factoring portfolios for Bombardier's manufacturing sectors, as well as the business aircraft financing portfolios. The company also says it maintains its financial targets for the current fiscal year. Copyright Agence France-Presse, 2002

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