Bombardier (TSX: BBD.B) has announced it will suspend all non-essential work at most of its Canada-based operations starting until April 26, 2020, the company said.
The move is in support of the recent mandates from the Governments of Quebec and Ontario to help slow the spread of the COVID-19 pandemic.
This suspension includes Bombardier´s aircraft and rail production activities in the provinces of Quebec and Ontario.
Employees impacted by these temporary shutdowns will be placed on furlough, as will corporate office employees whose support functions are less critical in the short-term. During this furlough period, Bombardier´s CEO and senior leadership team will forgo their pay, and the Chairman and members of Bombardier´s Board of Directors have agreed to forgo board compensation for the remainder of 2020.
Bombardier is also suspending its 2020 financial outlook as it evaluates the impact of temporarily closing its Canadian operations, as well as other actions being taken in response to the COVID-19 pandemic.
Bombardier, with over 60,000 employees across two business segments, is a global leader in the transportation industry, creating innovative and game-changing planes and trains. Bombardier has production and engineering sites in over 25 countries across the segments of Aviation and Transportation.