The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture For Transport Equipment Manufacture Of Other Transport Equipment 30.3 - Manufacture of air and spacecraft and related machinery
7,500 jobs Number of planned job losses
3,750 jobs Number of planned job creations
Announcement Date
21 October 2016
Employment effect (start)
21 October 2016
Foreseen end date
31 December 2018
Description
For the second time in 2016, Canadian airplane and train manufacturer Bombardier is to make large-scale lay-offs, with 7500 jobs to be cut over the next two years. This results in a total reduction of 20% of the company’s workforce. Two thirds will be in the transportation department, with the remainder in the aerospace division. These are expected to save around $300 million (€ 274.5 million) by the end of 2018. Around 3,750 new hires will occur as part of this restructuring. Of the announced cuts, 2,000 will be in Canada (1,500 in Quebec), with others likely to fall at Bombardier’s plants in Derby and Belfast. In the case of Belfast, 1,080 jobs are in the process of being cut as part of redundancy measures announced earlier this year, with this likely to be increased. Job security in the UK for some has increased, with Bombardier winning a contract to build 665 train carriages, as well as tabled bids for new trains on the London Underground and the upcoming High Speed 2 rail network.
This is the second round of dismissals announced by Bombardier this year. In total, taking into account the 7,000 job cuts announced in February, the company will reduce its workforce by 20%.
Sources
21 October 2016: Fortune
21 October 2016: BBC News
21 October 2016: The Guardian
21 October 2016: Financial Times
Citation
Eurofound (2016), Bombardier, Internal restructuring in World, factsheet number 88999, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/88999.
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