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CAE Cuts 280 Jobs and Sells Three European Facilities
The restructuring reflects softer demand for simulators and aircrew training as CAE prepares a broader strategy update in May.
- On Wednesday, Montreal-based CAE Inc. announced it will lay off approximately 2 per cent of its global workforce, cutting 280 jobs including engineers and software programmers to align with falling demand for simulators and aircrew training.
- Macroeconomic uncertainty and lower aircraft deliveries due to supply constraints have hit the global aviation industry, while plane groundings have reduced pilot hiring and training activity affecting CAE's services.
- CAE's civil aviation revenue fell 5 per cent year-over-year to $717-million, with training centres operating at 71 per cent capacity down from 76 per cent a year earlier; CEO Matthew Bromberg said the network is "too large for the demand that we see today."
- The company is closing facilities in Orlando, Fla., and Broken Arrow, Okla., selling three European training centres in Barcelona, Brussels and Stockholm, while offering early retirement programs in Canada and work-sharing arrangements to retain skills.
- Chief executive Matthew Bromberg, appointed last August with a mandate to double profits over the next three to four years, will present an update on the company's business strategy and longer-range financial targets in May.
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The Quebec manufacturer of flight simulators says that this represents about 2% of its global workforce. In Montreal, 180 positions are eliminated.
·Montreal, Canada
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The Toronto Star+4 Reposted by 4 other sources
CAE laying off roughly 280 workers amid aviation headwinds
MONTREAL - CAE Inc. says it is laying off two per cent of its workforce as the flight simulator maker gears down ahead of anticipated spending cuts by commercial airlines.
·Toronto, Canada
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TVA NouvellesReposted by 
Le Journal de Quebec
Le Journal de QuebecThe multinational CAE, a manufacturer of flight simulators, announced this morning the abolition of 280 positions, including 180 in Montreal.
·Montreal, Canada
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Total News Sources15
Leaning Left7Leaning Right2Center2Last UpdatedBias Distribution64% Left
Bias Distribution
- 64% of the sources lean Left
64% Left
L 64%
C 18%
R 18%
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