Bombardier Cutting About 5,000 Jobs

Bombardier Inc. says it's cutting about 5,000 jobs across the organization over the next 12 to 18 months as part of a new restructuring plan.

The cuts are expected to lead to about $250-million U.S. in annualized savings by 2021.

The company also announced the sale of what it called a number of non-core assets.

Bombardier has struck a deal to sell its Q Series aircraft program and de Havilland trademark to a subsidiary of Longview Aviation Capital Corp. for about $300-million U.S.

It also announced the sale of its business aircraft's flight and technical training business to CAE, and the monetization of royalties for about $800-million U.S.