'Workforce Adjustments' Reportedly Made in Response to COVID-19

Bombardier has announced that it will 'adjust its workforce' due to the 'extraordinary industry interruptions and challenges caused by COVID-19.'

Bombardier will reduce its workforce by approximately 2,500 employees. The majority of these reductions will impact manufacturing operations in Canada and will be carried out progressively throughout 2020. Bombardier’s worldwide customer service operations have continued to operate largely uninterrupted throughout the pandemic.

When the pandemic first arose, Bombardier Aviation claims that it responded quickly -- suspending manufacturing operations to support local government efforts to slow the spread of the virus and to protect the health and safety of employees, partners and customers.

Over the past month, Bombardier Aviation guided by health professionals and industry best practices, implemented comprehensive procedures and safeguards to further protect employees and communities as manufacturing operations resumed. Now with business jet deliveries, industry-wide, forecasted to be down approximately 30% year-over-year due to the pandemic, Bombardier must adjust its operations and workforce to ensure that it emerges from the current crisis on solid footing.

Bombardier also expects to record a special charge of approximately $40M in 2020 for this workforce adjustment and will provide further information on its market outlook when it reports its second quarter financial results on August 6, 2020.

FMI: www.bombardier.com