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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (61999)	7/10/2019 7:34:21 AM
From: Goose94	Read Replies (1) \| Respond to of 202922

Bombardier (BBD.B-T) plans to cut as much as half of the work force at its Thunder Bay rail-car plant. The announcement could come as soon as today. The company plans to cut 550 jobs, says a senior federal government source. Bombardier has used the plant, which employs about 1,100 workers, to make streetcars for the Toronto Transit Commission in a long-running and fraught contract that should see its final deliveries later this year. Bombardier has also used the plant to fulfill a contract with Metrolinx that devolved into legal action before the transit agency cut the order in half in 2017. A Bombardier executive told the CBC in June that the contracts were coming to an end this year, and that layoffs were likely in the fourth quarter. Ontario's Minister of Transportation, Caroline Mulroney, issued a statement Tuesday protesting against the decision. She said Metrolinx is "actively pursuing the purchase from Bombardier of more than $100-million in additional GO Transit cars that would be built in Thunder Bay." The minister's office clarified that Metrolinx wanted to buy more trains under an existing contract.