The company has been struggling to find buyers for the 100-150 seat CSeries jet, in to which it has sunk billions of dollars, due to fierce competition from Boeing Co and Airbus Group SE.
Bombardier's quarterly results missed analysts' expectations, and it also forecast lower-than-expected revenue for 2016.
The company expects to record $250 million to $300 million in restructuring charges in 2016 in connection with the layoffs. The company said it has about 64,000 employees.
The job cuts, mainly affecting the company's aerostructures and engineering services and transportation divisions, will be mostly in Canada and Europe, and are set to start in the coming weeks.
Bombardier said the number of employees directly assigned to the CSeries program is about 3,450 worldwide and is expected to keep growing over the next few years, including new jobs at its plant in Mirabel, Quebec.
The company, which was helped by recent cash infusions from pension fund Caisse de dépôt et placement du Québec and the Quebec government, said it expected free cash flow usage in the range of $1.0 billion-$1.3 billion this year.