Bombardier Aerospace cutting discretionary spending |
| CTV News - Sep 10, 2012 |
Bombardier's aerospace division is putting a "pause" on discretionary spending at least until January to preserve cash for two aircraft development programs.
In a memo to employees, the Montreal-based transportation giant says it will suspend most new hirings, cancel off-site meetings, cut all funding for Christmas parties and even suspend most travel.
Other measures include reducing or delaying spending on consultants, suspending most training, and stopping any office renovations. All capital spending will have to receive senior management approval.
Spokeswoman Haley Dunne says the missive sent last week from finance vice-president Mairead Lavery was meant to remind employees to be more prudent about what they're spending on during the company's peak period of investment.
Read more: http://www.ctvnews.ca/business/bombardier-aerospace-cutting-discretionary-spending-1.949524#ixzz265BKsJzG
Read Full Article from CTV News
- Posted: 2012-09-10 11:52:19
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