Restructuring events
European Restructuring Monitor (ERM)
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.
The Canadian plane and train manufacturer has announced a restructuring that will lead to 5,000 job cuts worldwide in the next 12-18 months, on a total workforce of 69,500 people. Half of the job cuts (2,500) will be made in the province of Québec and 500 in the province of Ontario. The day of the announcement, a spokesman said the firm does not yet have details on the remaining expected job losses.
Two weeks after the announcement, Bombardier announced 490 job cuts in Nothern Ireland out of a total workforce of 4,000 people. The 'Unite' trade union said the job losses were unexpected and in contradiction with rising profits. At worldwide level, the cuts will come mostly from its aerospace division with some from the firm's rail division.
Bombardier announced 1,700 job cuts in 2015, 7,000 in February 2016 and 7,500 in October 2016.
Eurofound (2018), Bombardier, Internal restructuring in World, factsheet number 95928, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/95928.