Canadian plane and train manufacturer, Bombardier, had some major announcements while they were giving their 2015 financial year results and company outlook for 2016.
The company said it was cutting 7000 jobs over the next two years. Most of the job losses will be in Canada and Europe and will be partly offset by new hiring in areas like their new CS-series aircraft program.
Bombardier also announced that Air Canada has signed a letter of intent to purchase 45 of Bombardier's CS300 aircraft with options for an additional 30 planes. Deliveries are scheduled to begin in 2019.