Bombardier says it will cut its workforce by 7,000 positions over the next two years, including 2,000 contractor positions.
Most of the job losses will be in Canada and Europe.
The Montreal-based aerospace and rail equipment company says the job losses will be partly offset by hiring in certain areas.
Bombardier says the job cuts will begin in the coming weeks and they will be completed by 2017.
The job cuts were announced along with a major order for Bombardier’s new CSeries jets being purchased by Air Canada.
The company also just released financial results for their latest quarter and 2015.