Democracy Gone Astray

Democracy, being a human construct, needs to be thought of as directionality rather than an object. As such, to understand it requires not so much a description of existing structures and/or other related phenomena but a declaration of intentionality.
This blog aims at creating labeled lists of published infringements of such intentionality, of points in time where democracy strays from its intended directionality. In addition to outright infringements, this blog also collects important contemporary information and/or discussions that impact our socio-political landscape.

All the posts here were published in the electronic media – main-stream as well as fringe, and maintain links to the original texts.

[NOTE: Due to changes I haven't caught on time in the blogging software, all of the 'Original Article' links were nullified between September 11, 2012 and December 11, 2012. My apologies.]

Thursday, February 18, 2016

Bombardier cutting 7,000 jobs

MONTREAL—Bombardier says it will cut its workforce by 7,000 positions over two years, including 2,000 contractors.

Most of the job losses will be in Canada and Europe, and will be partly offset by hiring in certain areas.

The Montreal-based aerospace and rail equipment company (TSX:BBD.B) says the cuts will begin in the coming weeks and be completed by 2017.

The job cuts were announced along with an Air Canada order for the largest model of Bombardier's new CSeries jets, as well as financial results for Bombardier's latest quarter and the 2015 financial year, and an outlook for 2016.

“We are turning Bombardier around to make this great company stronger and more competitive,” said Alain Bellemare, who has been Bombardier's president and chief executive for about a year.

“And today, with the signing of Air Canada for the leading-edge CS300 aircraft, we add a major international airline customer based in North America to complement our orders in both Europe and Asia.”

Among other things, Bombardier reported that its 2015 revenue was $18.2 billion — down from $20.1 billion in 2014.

Revenue in the fourth quarter ended Dec. 31 was $5 billion, down from just under $6 billion a year earlier.

Original Article
Source: thestar.com/
Author: CP

No comments:

Post a Comment