Bombardier Aerospace Implements Further Measures to Meet
Market Challenges
MONTREAL, QUEBEC--MARCH 5, 2003 - 08:05 EST
Bombardier Aerospace today announced that it is
taking additional steps to meet the continuing challenges facing
the aviation industry. Measures include a further reduction in
staffing. A total of 3,000 employees will be laid off at the
Bombardier Aerospace facilities in Montreal, Toronto and Belfast
over the next 12 months.
"In view of challenging market conditions, we have a
responsibility to take aggressive actions to continuously improve
our competitive edge and align our production rate with market
demand," explained Pierre Beaudoin, president and chief operating
officer, Bombardier Aerospace.
"In this period of consolidation, Bombardier Aerospace will
continue to invest in customer service and to support in-service
aircraft. Along with the most diversified line of innovative
products, Bombardier Aerospace will emerge stronger as the
premier manufacturer of the world's finest aircraft," added Mr.
Beaudoin.
Bombardier Aerospace, a unit of Bombardier Inc., is a world
leader in the design, and manufacture of innovative aviation
products and provides services for the regional, business and
amphibious aircraft markets. It also offers Bombardier Flexjet*
fractional ownership, aircraft charter and management, technical
services, aircraft maintenance and pilot training for business,
regional airline and military customers.
Bombardier Inc., a diversified manufacturing and services
company, is a world-leading manufacturer of business jets,
regional aircraft, rail transportation equipment and motorized
recreational products. It also provides financial services and
asset management in business areas aligned with its core
expertise. Headquartered in Montreal, Canada, the Corporation has
a workforce of some 75,000 people in 24 countries throughout the
Americas, Europe and Asia-Pacific. Its revenues for the fiscal
year ended Jan. 31, 2002 stood at CDN$21.6 billion. Bombardier
shares are traded on the Toronto, Brussels and Frankfurt stock
exchanges (BBD, BOM and BBDd.F).
* Trademarks of Bombardier Inc. or its subsidiaries. |
