The British-Canadian company Bombardier, which manufactures aircraft and trains, will reduce its workforce by 5,000 people over the next 12-18 months.

This is evident from the interim report for the third quarter.

A new productivity program is expected to deliver annual savings of $250 million when it reaches full speed, which the company expects to happen in 2021.

At the same time, it is announced that Bombardier will sell certain operations described as non-core. The divestment is expected to generate net proceeds of $900 million.

Bombardier is adjusting its revenue forecast for the full year 2018 downwards to $16.5 billion, from previous guidance of $16.5-17.0 billion.

The forecast for adjusted operating profit is also being adjusted up to approximately USD 1 billion, compared to previous guidance of USD 0.9-1.0 billion.

Source: news agency direkt-di.se