Bombardier to cut 5000 jobs after disappointing earnings
09 Novembre, 2018, 11:29 | Auteur: Auguste Feret
"2018 free cash flow was lower than my expectations", said Morningstar analyst Chris Higgins. The drop threatened most of the stock gains since the deal with Airbus was announced past year.
Bombardier has announced plans to cut 5,000 jobs globally, leading to concerns for workers in Northern Ireland.
The company said the job cuts would be made to "streamline" operations as part of a broader restructuring plan.
Half the lost jobs will be in Bombardier's home province of Quebec. And in June 2016, the Quebec government closed a US$1-billion investment in Bombardier's then-wholly owned CSeries program.
Renaud Gagne of Unifor, the union representing Canadian aerospace workers, however, warned that the layoffs "send a worrisome message for the future of the industry".
The company will sell its Q Series aircraft program and de Havilland aerospace trademark to a subsidiary of Longview Aviation Capital Corp. for approximately $300 million along with its Business Aircraft's flight and technical training program to CAE for $800 million.
The company also announced the sale of what it called a number of non-core assets.
Bellemare probably isn't done remaking Bombardier. And the overhaul might not be over yet, with Bombardier saying it's exploring strategic options for its CRJ regional jet program.
Bombardier Chief Financial Officer John Di Bert attributed the free cash flow discrepancy to higher-than-expected working capital needs in its rail division.
"The transportation side and business jets are clearly the central focus of Bombardier going forward", Moore said. Bombardier expects to deliver 15 to 20 of the planes next year, and twice as many in 2020, Di Bert said.
The company on Thursday forecast 2019 revenue would grow by 10 percent to $18 billion or more, driven by a pickup in deliveries of its Global 7500 business jets.
Letendre doesn't know the exact amount of jobs at Learject are expected to be cut in Wichita.
On an adjusted basis, Bombardier said it earned four cents per share in the quarter compared with a break-even result in the third quarter of 2017, beating analyst expectations. Sales fell 5.1 per cent to US$3.64 billion, compared with the average estimate of US$3.87 billion. Quarterly cash burn decelerated to US$370 million in the period. The Q400 that comes with this deal is a steady selling regional turboprop that seats up to 90 passengers.
In the third quarter, the commercial aircraft business recorded a loss of US$9 million before interest, taxes and special items.
The presenter struggled to appear completely natural, said Michael Wooldridge at the University of Oxford. Xinhua News claims the presenter can "read texts as naturally as a professional news anchor" .
The series will feature a female hero, half human and half divine, and will be set in a mythical Mesoamerican-inspired world. Silvia Olivas ( Elena of Avalor ) is co-writer and co-executive producer, and Jeff Ranjo ( Moana ) is head of story.
Un éventuel refus royal pourrait cependant servir la défense de Mme Boël: il ne manquerait pas d'être interprété comme un aveu. Albert II de Belgique et Paola Ruffo di Calabria assistent à la messe en mémoire des victimes de l'attentat de Bruxelles.
Lors de la cérémonie, David Hallyday rendra notamment hommage à son père Johnny Hallyday avec une chanson inédite. Cette semaine, TF1 diffuse le prime de façon exceptionnelle ce jeudi soir à 21 heures, au lieu de samedi.
Officers speculated Long, who had served in Afghanistan for seven months, was suffering from post-traumatic stress disorder. Earlier this year, police were called to his home after neighbors reported what officers described as a disturbance.
Early in the third period of the tilt, the forwards collided as Malkin carried the puck into the Capitals' zone on the power play. NOTES: F Zach Aston-Reese made his season debut and LW Garrett Wilson made his Penguins debut after being called up Tuesday.
Earth's protective ozone layer protects us from ultraviolet rays which cause skin cancer , crop damage and other problems. The emission of pollution containing chemicals such as chlorine and bromine has caused the ozone layer to deplete.
Patrisha, a self-proclaimed breastfeeding advocate, said she was happy to help because she knew the mother's predicament. After the baby was satisfied, Organo escorted the mother and child back to their seat.
Imelda Marcos faces arrest for graft
The former First Lady of the Philippines Imelda Marcos has been found guilty of corruption and is facing up to a decade in jail. Chairperson Emeritus Etta Rosales said, "This legal victory is a two-decade struggle by the fearless Filipino people".
Matt Kuchar tied for lead at working vacation in Mexico
With his normal caddie already holding a scheduling conflict, Kuchar instead hired a local caddie to fill the void. Hickok toiled on the Mackenzie Tour in Canada, then the Web.com Tour before finally making it to the big leagues.
Trump fires US Attorney General Jeff Sessions
Nevertheless he appealed to Republicans not "beholden" to Donald Trump to reign in any attempt to fire Mueller. One of the exceptions, Senator Susan Collins, said non-interference in the Mueller probe was "imperative".