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March 24, 2020, 9:20 a.m. EDT

Bombardier to suspend all non-essential operations, to furlough affected employees

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By Tomi Kilgore

Bombardier Inc. /zigman2/quotes/207024414/delayed BDRBF -8.23% /zigman2/quotes/208994866/delayed CA:BBD.B -7.29% said Tuesday that it will suspend all non-essential work at most of its Canada-based operations until April 26, including its aircraft and rail production activities in Quebec and Ontario. The Montreal-based planes and trains maker said employees impacted by the suspensions will be furloughed, as will some corporate office employees in less-critical support functions. Bombardier's chief executive and senior leadership team will forgo pay during the suspensions, and Chairman Pierre Beaudoin and other board members will forgo compensation for the rest of the year. The company said it is suspending its 2020 financial guidance, and said it has cut all discretionary spending and is pursuing additional measures to enhance liquidity. Bombardier's U.S.-listed shares have tumbled 66.8% over the past month, while the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -0.07% has dropped 33.5%.

/zigman2/quotes/207024414/delayed
US : U.S.: OTC
$ 0.32
-0.03 -8.23%
Volume: 5.81M
May 29, 2020 3:59p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$776.80 million
Rev. per Employee
$253,648
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/zigman2/quotes/208994866/delayed
CA : Canada: Toronto
$ 0.45
-0.04 -7.29%
Volume: 122.32M
May 29, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$1.07 billion
Rev. per Employee
$328,765
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
25,383.11
-17.53 -0.07%
Volume: 545.14M
May 29, 2020 5:14p
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