CAE Inc. is getting 600 positions in Montreal where the company makes civilian flight simulators. The company is also cutting 100 more positions worldwide. 70 of those positions are in management.
CAE is a world leader in providing simulation and modelling technologies and integrated training solutions for the civil aviation industry and defence forces around the globe. The company is facing challenges in the private sector, government business though has grown.
About half of the layoffs will take place in the coming weeks with the remainder in the fall.
CBC reports:
"Aerospace companies are facing extraordinary challenges and CAE is being tested as well," Montreal-based CAE said.
"Our military business has never been stronger but we expect civil orders to decline in the current context," the firm said.
The past year the
annual revenue increased 17% for CAE Inc. That increase is mainly due to military contacts.
Robert E. Brown, CAE’s President and Chief Executive Officer said that ir order to best serve customers the business is being restructured into a leaner more regional organziation.
During the last quarter of business in 2008 CAE Inc has more than $544 million of military orders.
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