Canadian Flight Training Firm Cuts 10 Percent
Stock quotes in this article:
CAE
MONTREAL (AP) The Canadian flight training company CAE Inc. is slashing 700 jobs, or 10 percent of its work force, in anticipation of a drop-off in orders from the civil aviation sector.
CAE says Thursday the cuts will include 600 positions at its Montreal operations. It hopes the moves will save it about 15 million Canadian dollars (US$12.7 million) a year. About 380 employees will be cut in the next few weeks and the rest in the fall. About 70 management positions are included in the cuts. CAE says it sees falling orders as the economic downturn affects the aviation industry. CAE also supplies aircraft simulators.- Loading Comments...
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