Canadian aviation giant Bombardier to cut 1800 jobs

Canada's Bombardier will cut 1,800 jobs, the troubled aviation giant announced Wednesday in a major reorganization.
"This marks another step in Bombardier's evolution," said Pierre Beaudoin, the company's president and chief executive officer, who said the overhaul, to be completed by January 1 of next year, would reduce costs and overhead.
A spokeswoman for the Montreal-based company, Isabelle Rondeau, confirmed for AFP the size of the cuts.
Beaudoin said in his press release that the reorganization -- in particular of the company's Aerospace branch -- "will enable us to be more agile and flexible in addressing customer needs, while increasing our focus on growth areas."
Among other recent woes, Bombardier had less than anticipated demand for its CSeries medium-range planes, which for a time were plagued by costly engine problems.
Company officials announced that as part of the overhaul, one of its senior officials, Aerospace President and Chief Operating Officer Guy Hachey, is stepping down.
"Guy led Bombardier Aerospace during an important period in its history. I wish to thank him for his contributions over the past six years," Beaudoin said.
Bombardier, one of the world's largest aircraft manufacturers, is the only company to build both planes and trains.
In the fiscal year ended December 31, 2013, the company had revenues of some $18.2 billion.