Montreal — Canadian aircraft and transport company Bombardier will cut 5,000 jobs globally and sell off its ageing turboprop line in a bid to “streamline” operations, the struggling firm announced Thursday. The 7% reduction of its workforce across the organisation will occur over the next 12 to 18 months, while key aerospace engineering team members will be redeployed to its booming business jet segment. The cuts will be concentrated in the aerospace business and will affect 3,000 workers in Canada, company spokesman Simon Letendre said. Bombardier has had to slash more than 15,000 jobs in its aerospace and rail divisions around the world since 2015. The Montreal-based group also announced the sale of “non-core assets” totaling about $900m, including the Q Series medium range turboprop aircraft programme and the De Havilland trademark, which was sold for about $300m to a Canadian investment fund. Flight simulator and training firm CAE, meanwhile, has agreed to pick up Bombardier’s b...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now