|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |    19th of March 2018
|   Banking  |   Insurance  |   Property  |   Mortgages  |   Economy  |   Investments  |   Credit Cards  |   Debt  |   Loans  |   Pensions  |   Companies  |  

Companies news feed Company News

All Financial News feed All Financial News

Train maker Bombardier unveils more than 1,000 job losses

Bookmark and Share

by Kay Mitchell

Train maker Bombardier has today revealed it will axe 1,400 jobs at its plant in Derby.

The job cuts are attributed to the company losing out to Siemens on the £1.4 billion Thameslink contract.

Its Derby operations has a workforce of 3,000 and the company said 446 permanent jobs and 983 temporary staff will go.

“The culmination and successful delivery of these projects and the loss of the Thameslink contract, which would have secured workload at this site, means that it is inevitable that we must adjust capacity in line with economic reality,” said Francis Paonessa, president of the passengers division for Bombardier in the UK.

The company, which is the only remaining training builder in Britain, said it regretted the outcome.

However, Germany company, Siemens, will create 2,000 jobs throughout the UK as a result of being awarded the Thameslink contract.

Discuss this in the Finance Markets forums

Story link: Train maker Bombardier unveils more than 1,000 job losses

News posted: July 5, 2011

Financial Services:

Related financial stories to: Train maker Bombardier unveils more than 1,000 job losses:
Previous: «
Next: »

Visited 2194 times, 1 so far today

No Comments

No comments yet.

RSS feed for comments on this post.

Sorry, the comment form is closed at this time.