Bombardier Laying Off 1,700
TORONTO (AP) -- Bombardier says it plans 1,700 layoffs from its aerospace division.
The Montreal-based company told employees Tuesday that the cuts are required due to delays in the launch of new planes and tough market conditions. Bombardier Inc. says it needs to preserve cash.
The layoffs represent 6 percent of the Bombardier Aerospace workforce.
Bombardier announced earlier this month it is delaying again the in-service launch of its much-touted CSeries single-aisle airline to the second half of 2015. The world's third-largest maker of civilian commercial aircraft had said the plane would be ready for service later this year.
The company has 198 firm orders, less than anticipated.