Bombardier to cut 5,000 jobs, shares dive on cash flow concerns

By Nivedita Bhattacharjee and Allison Lampert (Reuters) - Bombardier Inc on Thursday agreed to sell two of its units for around $900 million and cut 5,000 jobs to focus on business jets, but its shares fell as much as 26 percent on a disappointing free cash flow forecast. The Canadian plane and train maker said it would only be able to meet its 2018 free cash flow estimate by using $635 million in proceeds from the sale of a Toronto plant earlier this year. Analysts had expected Montreal-based Bombardier to...

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By: Firstpost - 6 days ago

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