Canadian aircraft manufacturer Bombardier has announced yet another round of job cuts in its aerospace division totalling 710 jobs due to the lack of new orders for its CRJ regional jets.

Bombardier has witnessed a sharp drop in demand for its narrow-body regional airliners and business jets due to the global economy.,

Many orders for the jet have been deferred or cancelled as travel demands soften with the company forced to cut costs, which led to Bombardier to axe around 4,360 staff in two rounds of layoffs earlier this year.

The latest round of job cuts is likely to adjust for the lower production rates, according to analyst Chris Sears.

He believes that the cuts that were made were aggressive; adding that there still appeared to be strong interest in the 70 to 100 seat CRJ jets, but most airlines would need to see a rebound in the economy before having enough confidence to place new orders.

The Montreal-based company said the latest job cuts would take effect in January and throughout the first two quarters of next year as it reduces production of its CRJ line.  The company did not provide any details on the planned production schedule for next year.

The job cuts will also include some layoffs in relation to the decrease in production of the Bombardier 415 amphibious aircraft, a turboprop water bomber designed to fight wildfires.

Bombardier is due to release its results for the third fiscal next Thursday.