CAE Inc. Reduces Workforce by 2% Amid Market Adjustments
CAE Inc. has announced a 2% reduction in its workforce, equating to about 280 jobs, as part of a strategic restructuring. This decision follows a noted decline in demand within the civil aviation sector, prompting a shift in operational focus.
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CAE Inc. is implementing a 2% workforce reduction, affecting approximately 280 positions, to better align with decreasing demand for flight simulators and training services. The company plans to offer early retirement packages in Canada and has initiated the closure of facilities in Orlando and Broken Arrow.
Despite challenges in the civil aviation market, CAE's defense sector reported a 14% revenue increase, indicating a shift in focus. A business strategy update is expected in May, which will outline longer-term financial goals. The restructuring aims to improve operational efficiency amidst macroeconomic uncertainties and supply chain issues impacting aircraft deliveries.
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