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.