Bombardier Inc. has announced that it is suspending all airline and rail production in Quebec and Ontario, starting on Tuesday night until April 26.
Employees impacted by the temporary shutdowns will be placed on furlough, according to a company release. During the furlough period, Bombardier’s CEO and senior leadership team will forgo their pay, and the chairman and members of Bombardier’s board of directors have agreed to forgo compensation for the remainder of 2020.
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“Since the coronavirus outbreak, the company has been focused on keeping our employees safe, serving our customers to the best of our ability during these difficult times, and taking the necessary actions to protect our business for the long term,” said Pierre Beaudoin, chairman of the board of directors at Bombardier Inc. “In addition to the actions announced today, Bombardier has cut all discretionary spending, is continuing the work on closing the previously announced transactions and is pursuing additional measures to enhance liquidity.”
Headquartered in Montreal, Bombardier has over 60,000 employees across two business segments. Bombardier says it is “a global leader in the transportation industry, creating innovative and game-changing planes and trains.”