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Fears for thousands of Bombardier jobs in Northern Ireland | |
(35 minutes later) | |
Thousands of Bombardier workers in Northern Ireland face uncertainty after the Canadian company announced 5,000 job cuts globally on Thursday. | |
The struggling plane and train maker has not said where the cuts would be made over the next 12 to 18 months. | |
Bombardier employs almost 70,000 people, including 5,500 in Northern Ireland. | |
About 4,000 of those work in its Belfast factory, making it the city's biggest employer. | |
Bombardier also has operations at Newtownabbey, Dunmurry and Newtownards in Northern Ireland and accounts for 10% of its manufacturing exports. | |
The firm will also sell its Q Series aircraft for $900m (£687m) and the de Havilland trademark for $300m. | |
"We have set in motion the next round of actions necessary to unleash the full potential of the Bombardier portfolio," said chief executive Alain Bellemare. | "We have set in motion the next round of actions necessary to unleash the full potential of the Bombardier portfolio," said chief executive Alain Bellemare. |
Following the announcement, a Bombardier UK spokesperson said: "We will take the necessary time to evaluate what this means for our Aerostructures and Engineering Services business. We will communicate with our employees in more detail over the coming weeks." | |
Earlier this year, Bombardier sold a majority stake in its loss-making C-Series aircraft to Europe's Airbus, with the plane being renamed the A220. | Earlier this year, Bombardier sold a majority stake in its loss-making C-Series aircraft to Europe's Airbus, with the plane being renamed the A220. |
The announcement came as Bombardier unveiled its third-quarter results, in which pre-tax profits doubled to $267m for the three months to September compared with the same period last year. | |
Sales were down 5% to $3.6bn, but revenue is expected to jump 10% to at least $18bn next year. | |
Mr Bellemare was brought in three years ago to shore up Bombardier, which was facing serious financial trouble with the C Series programme and had to be rescued by the Quebec government with a $1bn bailout. |