BDRBF - Bombardier to stop making Learjets cut 1600 jobs

Bombardier ([[BDRAF]], [[BDRBF]]) will stop making its iconic Learjet and cut 1,600 jobs as part of its plan to drive profitability and productivity.Learjet production will stop in Q4, which the company says will allow it to focus on its more lucrative Challenger and Global aircraft groups.With these actions, Bombardier aims to generate $400M/year in recurring savings by 2023, including $100M this year.Bombardier has been selling off major units to cut debt and improve cash flows; it sold its C-Series narrow-body aircraft program to Airbus and last month completed the sale its rail division to Alstom.The news comes as Bombardier posted an adjusted Q4 loss of $0.20/share compared with breakeven in the year-ago quarter.

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Bombardier to stop making Learjets, cut 1,600 jobs