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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. ...

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