MONTREAL (dpa-AFX) - Bombardier (BBD_B.TO) said, in response to the COVID-19 pandemic, the company will suspend all non-essential work at most of its Canadian based operations until April 26, 2020. The suspension includes the company's aircraft and rail production activities in the provinces of Quebec and Ontario. Also, the company suspended its fiscal 2020 outlook.
Bombardier said, during this furlough period, the company's CEO and senior leadership team will forgo their pay. The Chairman and members of Bombardier's Board have agreed to forgo board compensation for the remainder of 2020.
Pierre Beaudoin, Chairman of the Board, Bombardier said: 'In addition to the actions announced today, Bombardier has cut all discretionary spending, is continuing the work on closing the previously announced transactions and is pursuing additional measures to enhance liquidity.'
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