Bombardier cutting 7000 jobs over two years

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Bombardier says it will cut its workforce by 7,000 positions over two years, including 2,000 contractors and most of the job losses will be in Canada and Europe.

The good news here is that some of the losses will be off-set by hiring in certain areas. The Montreal-based aerospace and rail equipment company says the job cuts will begin in the coming weeks and they will be completed by 2017. The job cuts were announced along with a major order for Bombardier’s new CSeries jets being purchased by Air Canada as well as financial results for Bombardier’s latest quarter and the 2015 financial year