Bombardier Capital announces layoffs

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(Host) Bombardier Capital, the financial services company, has announced cost-cutting measures to its assets-management division.

The division currently employs about 50 people in Colchester. Company spokesman David Slack says the workers were told on Friday that a gradual reduction in the workforce is expected:

(Slack) “We don’t really have any numbers or timing yet. The intent is that we will, for lack of a better term, wind down those assets over a period of time.”

(Host) Bombardier Capital, which is based in Montreal, will be cutting almost 2,000 jobs worldwide to increase the company’s financial flexibility. Slack says that Bombardier’s inventory finance division, also located in Colchester, will not by affected by the cost-cutting measures.

Bombardier Capital is a division of Bombardier Incorporated.

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