UPDATE 1-Bombardier to cut 2,500 aviation jobs as COVID-19 hurts sales

(Adds detail on restructuring charge, background on rail unit)

June 5 (Reuters) - Canadian business jet maker Bombardier Inc said on Friday it would cut 2,500 jobs at its aviation unit and take a related charge of $40 million this year, as the COVID-19 pandemic hurts sales.

"Now with business jet deliveries, industry-wide, forecasted to be down approximately 30% year-over-year due to the pandemic, Bombardier must adjust its operations and workforce to ensure that it emerges from the current crisis on solid footing," the company said.

The company is in the process of selling its rail business to French TGV high-speed train maker Alstom for up to 6.2 billion euros ($7.02 billion), and said last month that the deal has not been affected by the coronavirus crisis.

($1 = 0.8832 euros) (Reporting by Ankit Ajmera in Bengaluru; Editing by Ramakrishnan M.)

06/05/2020 10:27

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