Canadian plane and train maker Bombardier is to 5000 jobs across its global business over the next year and a half.
Bombardier previously announced about 14,500 cuts around the world in the aerospace and railway divisions.
Bombardier Alain Bellemare President and CEO said of the restructuring, "we continue to make solid progress executing our turnaround plan". Bombardier said that 3,000 of the job cuts will happen in Canada over the next 18 months and will save the company $250 million USA a year in salary and benefit expenses.
On the site's future, it said: 'We will communicate with our employees in more detail over the coming weeks'.
Bombardier says that 2,500 workers will be cut in the Canadian province of Quebec and 500 workers from the province of Ontario.
The decision to sell the Q Series line, Bellemare said, was made 'because we believe there is a better owner than us to keep this program going'.
For the quarter ended September 30, Bombardier reported US$267 million in earnings before interest and taxation, compared with US$133 million in the same period a year earlier, which were restated due to accounting changes.
Meghan Markle May Have Just Been Outed as a Major Bridezilla
The history of the tiara could not be established and there was a possibility that its origin was in Russian Federation . Another thing that the Queen and Meghan were in disagreement of before the wedding was Meghan's decision to wear a veil.
Tyson Chandler Was Overwhelmed After Lakers Debut
Timberwolves guard Jimmy Butler will play on Wednesday against the Lakers, coach Tom Thibodeau said after shootaround. With timely shooting and defensive stops in the final minutes, Minnesota closed out Los Angeles 124-120 in that game.
Adriana Lima Bids Farewell To Victoria's Secret As She Announces Her Retirement
So proud watching Kendall walk the Victoria's Secret Fashion Show 2018 runway today! "Thank you Ed, and all my Victoria's Secret family for making these memories unforgettable".
Karl Moore, an aviation expert at Montreal's McGill University, said the layoffs and selloffs will allow Bombardier to shift away from regional jets and shrink its debt.
Sales were down 5% to $3.6bn, but revenue is expected to jump 10% to at least $18bn next year. In February 2017, the federal government said was providing $372.5 million in loans over a four-year horizon to "support thousands of good middle-class jobs".
The company also announced plans to sell several "non-core" assets, including its Q series aircraft program and its Business Aircraft's flight and technical training activities unit.
Longview, whose subsidiary Viking Air Ltd. makes turboprop aircraft such as the Twin Otter, intends to maintain supply chains for the Q400 series that now stretch from China to Ireland to Mexico, he added.
Jamie Koutsoukis, a senior analyst at Moody's, said by email she believes Bombardier has "an uncertain ability to generate positive free cash flow in 2019".
The agreement includes the entire Dash 8 program, including the 100, 200 and 300 series and the in-production Q400 program. According to Bombardier, the sale of these two assets will net the company $900 million.