Bombardier has suspended all non-essential work at
most of its Canadian-based operations until 27 April 2020.
The suspension includes Bombardier’s aircraft and
rail production activities in the provinces of Quebec and Ontario.
Employees impacted by these temporary shutdowns
have been placed on furlough, as have corporate office employees
whose support functions were deemed “less critical in the short-term”.
During this furlough period, Bombardier’s CEO and senior
leadership team will forgo their pay, and the Chairman and members
of Bombardier’s Board of Directors have agreed to forgo board compensation for the remainder of 2020.
Bombardier is also
suspending its 2020 financial outlook as it evaluates the impact
of temporarily closing its Canadian operations, as well as other
actions being taken in response to the COVID19 pandemic.
“Since the coronavirus outbreak, the company has been focused on
keeping our employees safe, serving our customers to the best of
our ability during these difficult times and taking the necessary
actions to protect our business for the long term,” said Pierre Beaudoin, Chairman of the Board of Directors, Bombardier Inc. “In
addition to the actions announced, Bombardier has cut all
discretionary spending, is continuing the work on closing the
previously announced transactions and is pursuing additional
measures to enhance liquidity.”