Bombardier lays off 1,600 workers

"We regret seeing talented and dedicated employees leave the company for any reason," Bombardier chief executive Eric Martel said, according to Global News. "But these reductions are absolutely necessary for us to rebuild our company while we continue to navigate through the pandemic," he continued.

The announcement also included news that the company will cease production on the Learjet. "Passengers all over the world love to fly this exceptional aircraft and count on its unmatched performance and reliability. However, given the increasingly challenging market dynamics, we have made this difficult decision to end Learjet production." The company instead, plans to focus on the more profitable Challenger jet.

The company also announced it will cut 13,000 jobs from its global workforce. The company keeps it's books in the US where they reported a net loss of $337 million US or 18 cents per diluted share for the quarter ended Dec. 31 compared with a net loss of $1.72 billion US or 74 cents per diluted share a year earlier.