Bombardier is cutting about five-thousand jobs across the organization over the next 12 to 18 months as part of a new restructuring plan.
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 for about 300-million dollars.
Meanwhild, Bombardier Transportation says all 14 LRT vehicles will be in Waterloo Region by the end of December.
That commitment was made on Wednesday by the chief operating officer at Bombardier, David Van der Wee.
The LRT system was supposed to be up and running by December. However, on Tuesday, regional councillors learned it likely would not be ready now until April or May, due to technical issues.
Van der Wee says they are taking action to make sure they meet that requirement, and that Bombardier stands behind its commitments. (CP/ Rob Curwain)