Business jet maker Bombardier cuts 2,500 jobs

New York (CNN Business)Demand for business jets has dried up during the Covid-19 pandemic.

A precipitous drop in orders prompted aircraft maker Bombardier to announce it is cutting 2,500 jobs, mostly in Canada, its home base.

Business jet deliveries are expected to fall 30% this quarter, Bombardier said Friday.

"Bombardier must adjust its operations and workforce to ensure that it emerges from the current crisis on solid footing," the company said in a statement. It will take a charge of 40 million Canadian dollars, or about $30 million, to cover the costs of the layoffs.

Commercial aircraft maker Boeing (BA) has already announced plans to cut 16,000 jobs because of the sharp drop in orders from airlines, which are racing to cut spending in the face of the sharp decline in demand for air travel.
Rival Airbus (EADSF) has yet to announce permanent job cuts, but it has furloughed 6,000 workers.
A year ago, the company sold its regional jet business to Airbus. That business built smaller commercial aircraft that are used to feed the hubs of major airlines.

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