This translation has been automatically generated and has not been verified for accuracy.The Montreal-based plane and train maker posted a surprise loss in its second quarter, hurt in part by higher costs in its rail business as the company continues to have trouble executing on several major legacy contracts. The industrial manufacturer also shipped 40 per cent fewer jets in the quarter as the coronavirus pandemic rages on.
Mr. Martel, who joined Bombardier in April in the throes of a global health emergency, has reset production rates and laid off 2,500 aerospace workers as he tries to steer the company through the tail end of a dramatic reshaping that will see it sell or shut down assets that represented 65 per cent of its former revenue. Bombardier will become a pure-play maker of private business jets if things go to plan next year.
There is “an urgency” for the rail business to become more predictable, Mr. Martel said on the call, as he gave his view on the sources of the trouble in the train unit.
That’s code for: get ready for layoffs and sign up for CERB
You cannot use Bombardier, loss and surprise in the same sentence!
Surprise loss? Not enough interest free loans and government funding to them?
Did they get money from Govt?
Surprise loss?! Cough cough who wants to bet they come a crying to PQ and liberals in Ottawa for a bailout. After all it’s worked for 40 yrs.. And keep the same family running it which are actually useless in running a corporation...
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