Canada's Bombardier to cut 5,000 jobs in restructuring

Bombardier is the world’s leading manufacturer of both planes and trains. [Photo: Courtesy]

Canadian aerospace and transportation manufacturer Bombardier on Thursday announced 5,000 global job cuts over the next year to 18 months in a bid to "streamline" the struggling firm.

The Montreal-based group also announced the sale of "non-core assets" totaling around $900 million, including the Q Series aircraft program and the de Havilland trademark, which was sold for some $300 million to a Canadian investment fund.