Bombardier Business Aircraft (Montréal, Quebec, Canada) said that it will reduce the production rate for Global 5000 and Global 6000 aircraft due to a soften demand in some market regions, particularly in Latin America, China and Russia. As a result, about 1,750 employees – up to 1,000 in the Montréal region, up to 480 in Toronto and up to 280 in Belfast – will be cut at various stages of the Global 5000 and Global 6000 production cycle, the company stated. Reductions will begin in June 2015 and continue through the first quarter of 2016.
“We have seen an industry-wide softness in demand recently in certain international markets and are taking steps to adjust our production accordingly. We fully understand the impact this will have on our affected employees and their families and we will do everything possible to support them,” said Éric Martel, President of Bombardier Business Aircraft.
“Bombardier constantly monitors the market and adjusts to trends and opportunities. Despite this short-term softness in international markets, we are well positioned to be the market share leader in the segments where we compete,” Martel said.
Editor PickGardner Business Index at 54.1 in January
The US composites industry looks as strong as it has since early 2015, with expectations the highest in years.