The announced layoffs are now expected to be about 4,360.

The cuts will be made at the company's facilities in Canada, the United States, Mexico and Northern Ireland by the end of 2009.

Bombardier, the world's third-largest maker of commercial aircraft, said it expects the demand for business aircraft to remain weak for the foreseeable future.

The announcement came as Bombardier reported that its full-year profit reached $1 billion US for the first time, topping the $317 million the company made in its last fiscal year. Bombardier's revenues for the year rose 13 per cent year-over-year to $19.7 billion.

"During the past year, we more than held our own as the world's financial markets tumbled and the global economy weakened," said company president and CEO Pierre Beaudoin.

For the fourth quarter, Bombardier made a profit of $309 million, or 17 cents a share, on revenue of $5.4 billion. In the same quarter of its previous fiscal year, the company reported earnings of $218 million, or 12 cents a share, on revenue of $5.3 billion.