GROSS: Despite Repeated Taxpayer-Funded Bailouts, Bombardier Is Slashing 3,000 Canadian Jobs

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.

NOPE.

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.

Spencer Fernando

Photos – Twitter

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Don Taylor
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Don Taylor

as long as the useless Turdeau govt is in Ottawa ,our country will continue to suffer

Del
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Del

Trudeau gave over $400 million to Bombadeer just a couple of months ago and they were mystified as to the reason. Bombadeer claimed then that they were in good shape with new orders for aircraft with no need for Liberal support. Trudeau called it a loan. I want that loan repaid. I want ALL the loans repaid. If it means the Government seizing the assets and selling them. This is classic ugly corporate welfare that has created hundreds of jobs in Mexico and the USA.

Why do the Liberals hate Canada?

NancyW
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NancyW

Just so the rich shareholders and top management can earn more money, at taxpayers and employees expense, if we only had a Canadian government, FOR Canada.

Norbert Kausen
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Norbert Kausen

Why am I NOT surprised??!! What else is new… a French company gets special subsidies courtesy of the taxpayer, though we were not asked about it, then fires Canadians because it is restructuring/downsizing…. WHAT happened to our MONEY?????

Kitsie
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Kitsie

Would anyone else give huge amounts of to do a bail-out without retaining a share of that company? Not anyone with a right mind. If Bomberbardier did not like it they could say no and go on their merry way. Why is this happening? The whole thing reeks of corruption.

NancyW
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NancyW

Kitsie, it is corruption, they all sit on each others foundations and charities for the Quebec rich, fake Conservative Mulroney and Bombardier people sit on Trudeau money laundering foundations and vice versa, and Quebec rich have been running Canada into the ground since the first P. Trudeau. Why do we keep voting Quebec politicians to rule not govern, there are nine other provinces and three territories.

Van Wyck
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Van Wyck

Bingo! That is exactly why Canadians find themselves where they are today. Greed, and the will of the political class from Quebec. Tail wags the dog and nobody cares.

shawn harris
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shawn harris

NO surprise here. When Bombardier gave away their flagship plane, the C series to Airbus , they were just sending a very clear message. That they were going broke, 9 billion in debt, and that there was more giveaways to come. This is the ultimate corporate knife in the backs of Canadians, along with the pandering of Trudeau , all to secure votes. While we get nothing to show for our investments. While Bombardier has a great laugh, while watching Canadians pour more tax dollars into their shell company called Bombardier. A corporation that hasn’t ever made a profit. And… Read more »

Elizabeth Thorne
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It just keeps getting better under the Liberals right?

Jacinte
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Jacinte

Basically Canadians own at least 50% of Bombardier. Let the government takes on our behalf what belongs to us.