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Be the first with the news that moves the market- Bombardier Inc (TSX:BBD.B) is returning the majority of its employees to work, after furloughing them earlier in the year
- Over the next few weeks almost 11,000 Bombardier employees will return to work, with manufacturing activities set to resume from May 11
- The employees were temporarily laid off due to the Canadian Government’s COVID-19 lockdown measures
- Bombardier was able to return staff after accessing the Government’s Emergency Wage Subsidy
- Bombardier Inc (BBD.B) is up 6.31 per cent, with shares trading for C$5.30 and a market cap of $1.08 billion
Bombardier Inc (TSX:BBD.B) is returning the majority of its employees to work, after furloughing them earlier in the year.
The employees were temporarily laid off due to the Canadian Government’s COVID-19 lockdown measures.
Over the next few weeks almost 11,000 Bombardier employees will return to work, with manufacturing activities set to resume from May 11.
Employees that are not required on-site will be asked to work from home as part of the company’s safety measures during the pandemic.
Bombardier was able to return staff after accessing the government’s Emergency Wage Subsidy, which it will use to support its payroll during a difficult time for the aviation industry.
Even without government restrictions impacting its operations, Bombardier has faced a difficult environment since the advent of the COVID-19.
During March the company’s market share fell more than 65 per cent, before marginally recovering towards the end of the month.
Éric Martel, President and CEO of Bombardier is pleased to be welcoming back the company’s employees.
“As we resume operations across many of our sites, the health and safety of our employees, our customers and the general population will continue to be our top priority.
“I deeply believe that by continuing to work in close collaboration with the employee representatives and public health authorities in all the countries where we operate, Bombardier will establish itself as an example of a dynamic and responsible industrial leader in the global recovery,” he said.
Éric went on to thank the government for the wage relief program, as well as thanking the company’s staff and for their understanding and dedication.
Bombardier Inc (BBD.B) is up 6.31 per cent, with shares trading for C$5.30 at 2:05pm EST.
