BOMBARDIER
Bombardier executives under pressure to forfeit big pay increases
The rocketing executive payouts generate public rage after the company received taxpayer aid and announced 14,000 job cuts
Montreal — Quebec’s main opposition party plans to introduce a motion this week urging Prime Minister Philippe Couillard to ask Bombardier’s senior executives to renounce their 2016 pay raises. Executive payouts at Bombardier have generated public anger in the company’s home province as the maker of planes and trains boosted compensation almost 50% after receiving taxpayer aid and announcing plans to cut at least 14,000 jobs. Quebec invested $1bn in Bombardier’s C Series jetliner programme, which entered service two years late and billions of dollars over budget. While executive chairman Pierre Beaudoin offered on Friday to forfeit his pay increase for 2016, Bombardier declined to comment on whether five other senior managers — including CEO Alain Bellemare — would follow suit. Television images showed hundreds of people gathered on Sunday in front of the company’s downtown Montreal headquarters to demonstrate against the payouts, with some chanting: "Shame on Bombardier."
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.