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24-Oct-2016 2:05 AM

Bombardier announces streamlining and reorganisation initiatives, to affect 7500 workers

Bombardier announced (21-Oct-2016) a series of actions as part of its five-year turnaround plan, launched in 2015:

  • Streamlining administrative and non-production functions across the organisation;
  • Leveraging company's worldwide footprint to create centres of excellence for design, engineering and manufacturing activities in both aerospace and rail;
  • Approximately 7500 positions will be "impacted" under workforce optimisation and site specialisation actions through 2018. Impact of restructuring actions on overall employment will be partially offset by strategic hiring to support the ramp-up for key growth programs, including the C Series and Global 7000, as well as to support major rail contract wins.

Bombardier expects to achieve recurring savings of approximately USD300 million by the end of 2018. The company anticipates recording USD225 million to USD275 million in restructuring charges that will be reported as special items when accrued, starting in 4Q2016 and continuing through 2017. [more - original PR]

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