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Friday, 27 September, 2002, 13:58 GMT 14:58 UK
Bombardier cuts 2,000 jobs
Bombardier aircraft
Bombardier is the world's leading maker of regional jets
Bombardier, the world's leading maker of regional jets, has said it is to cut nearly 2000 jobs, or 6% of its workforce, at its aerospace division.

The job cuts will be made at factories in Canada, the US and the UK.

Bombardier also announced temporary halts in production at some of its aerospace sites.

Last month the company said it would miss its profit target for the full-year because of the tough conditions in the aerospace industry.

"The measures we have put in place today, once they are carried out, will enhance Bombardier's financial flexibility in the context of the uncertainties of this unpredictable economic environment," said chief executive Robert Brown.

The job cuts will include 1,280 in Canada, 240 in Belfast, Northern Ireland, 210 in Tucson, Arizona and 250 at other locations

Investor concern

The whole aerospace industry has been struggling since the September 11 terror attacks.

Bombardier's shares have fallen to their lowest level for seven years this week as investors worried about the how the financial woes at a number of US airlines could hit the company.

The company, one of Canada's leading industrial groups, is the world's third largest civil aviation manufacturer and a leading maker of regional jets.

Bombardier is also the world's largest maker of passenger train equipment.

See also:

27 Sep 02 | N Ireland
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