Another bad day for Bombardier, but will that accelerate possible federal funding?
Saying it needs to be more profitable and more competitive, Bombardier is cutting more than 7,000 jobs over the next few years with 1,500 in Quebec and 500 elsewhere in the country.
But, it also says it plans to hire 3,700 people worldwide as it increases production of its fledgling C-Series jets and business aircraft.
The Montreal-based plane and train maker still wants a billion dollars in funding from Ottawa after receiving that much from the Quebec government.
McGill business professor Karl Moore spoke with CTV saying financial public investments are still needed for a company as big as Bombardier even though it's making cuts.
"This should encourage Quebec City and Ottawa that Quebec's made a good investment and Ottawa should join in in order to help one of the great global competitors of Canada be more successful and stay around for many years to come", said Moore.
In Ottawa, Innovation Minister Navdeep Bains said the federal government is focused on how to provide funding that meets its conditions to keep Bombardier's head office in Canada and preserve future jobs and investments in research and development.
"We very much want to be part of the solution but we have to find and make sure we have the conditions for growth,'' he said.
"It's not connected with the job losses here. It's really much focused on the future prospects of the company.''
Bombardier announced massive global layoffs just six months ago, incuding 2,400 cuts in Quebec.