Bombardier announces 5,000 global job cuts

Canadian aerospace and transportation manufacturer Bombardier on Thursday announced 5,000 global job cuts over the next year to 18 months in a bid to "streamline" the struggling firm.

In a press release, the Montreal-based group also announced the sale of "non-core assets" totalling around $900 million, including the Q Series aircraft program and the de Havilland trademark, sold for some $300 million to a Canadian investment fund.