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Bombardier plans to deepen its job-cuts program

Canadian aerospace and train manufacturer Bombardier (OTCQX:BDRAF, OTCQX:BDRBF) plans to deepen its job-cuts program, saying it will axe 7,500 positions, or 10% of its global workforce, over the next two years as it doubles down on its efforts to turn around its rail division. Bombardier, which announced other job losses in February, expects recurring savings of about $300M by the end of 2018 from the latest move, although it will also take restructuring charges of $225-275M starting in Q4 2016.