Canadian plane and train maker Bombardier is to 5000 jobs across its global business over the next year and a half.
Alain Bellemare, Bombardier CEO claimed the cuts and sales were necessary and that the company would continue to streamline its business operations.
"Collectively, these actions will result in a reduction of approximately 5,000 positions across the organization over the next 12 to 18 months, leading to annualized savings of approximately $250 million at full run rate, which we expect by 2021", it added.
With the conclusion of those aircraft development programs, "we have to adjust and redeploy our engineering workforce, and this will have an impact on Wichita, of course", Letendre said.
Thousands of Bombardier employees in Northern Ireland face uncertainty as the Canadian company has announced 5,000 job cuts globally today, Thursday 08 November.
Michael Mulholland, GMB Regional Organsier, said: "GMB demands answers from Bombardier for our members in Northern Ireland".
Bombardier forecast 2019 revenue to increase by 10 per cent to at least $18 billion, powered by more deliveries of its Global 7500s. EBIT before special items grew 48% year over year to $271 million, and the Company remains on track to reach the top end of its guidance for the full year of approximately $1.0 billion. Anthony Scilipotti, founder of Veritas Investment Research in Toronto said: "Bombardier is desperate and it's unfortunate that the unsuspecting taxpayer is shouldering the burden for management's terrible decision making".
The latest redundancy announcement from Bombardier comes as the manufacturer reported revenues of $3.6bn (£2.75bn) for the the third quarter, representing a 3 per cent from the same period in 2017 and its best quarterly return in years.
"There's no question, the writing's on the wall - we've go to move", Curtis said.
Revenue in what was the company's third quarter totalled US$3.64 billion, down from US$3.84 billion a year ago.
The agreement includes the entire Dash 8 program, including the 100, 200 and 300 series and the in-production Q400 program.
Bombardier says the deals with Longview and CAE will amount to $900 million in net proceeds.