The company continues to be a leech on Canadian taxpayers while reducing their presence in our country.
Bombardier is only alive today because of repeated bailouts paid for by Canadian taxpayers.
Considering that Bombardier owes their existence to the Canadian People, the least the big corporation could do would be to protect their job numbers in Canada, and even expand the number of jobs in their home country.
Instead, they are reducing their Canadian content, selling portions of their company and intellectual property to non-Canadian companies.
And now, they’re slashing 3,000 jobs in Canada.
As reported by BNN Bloomberg, “The Montreal-based plane and train maker announced the cuts early Thursday, saying they’re designed to “lean out and simplify” the company’s corporate structure. A spokesperson for Bombardier confirmed in an email to BNN Bloomberg that approximately 3,000 of the job cuts will happen in Canada. The overall restructuring is expected to take place over the next year and a half and will save the company US$250 million per year.”
This is gross.
Canadian taxpayers have given Bombardier far over a billion dollars in bailouts. The company is only alive because – having struggled horribly in the free market – they used their political clout to get our money transferred to them.
Then, they turn around and show ZERO appreciation for what the Canadian People gave to them, and cut Canadian jobs while making the company less Canadian.
As Norman Levine of Portfolio Management Corp said, “Over the years [Bombardier has] just been a money pit, wrapping itself in the flag – be it the Canadian flag or the Quebec flag. Governments just keep throwing money at it over and over again. … Where has it all gone? What have taxpayers actually got out of this company?”
This is not only a failure of Patriotism by Bombardier (who has shown total disloyalty to Canada), it’s a failure by the government. The government literally had Bombardier’s fate in their hands. If they wanted to save the company, they could have made demands – like firing the entire pathetically incompetent company leadership, demanding the protection of Canadian jobs, and ordering Bombardier to begin designing homegrown aircraft for the Canadian Air Force.
Instead, the government just sold us out by giving Bombardier the money with no strings attached.
Once again, the big corporate elites get bailed out with our tax dollars, while the Canadian People get thrown under the bus.
Photos – Twitter