New Flyer bus enjoys 60% increase in cash flow; plans to fire 350 workers

Long time bus supplier to TransLink enjoys increased profits, so why is it firing hundreds of employees?

Executives at Winnipeg bus maker New Flyer Industries Inc. (NFI.UN-T9.840.010.10%) have not been complaining about the high Canadian dollar. Instead, the company reported a 60-per-cent jump in cash flow from operations (before adjustments) over the comparable period a year ago in its third-quarter earnings report.

New Flyer has announced plans to fire up to 350 workers. (Globe and Mail)

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