CAE Layoffs Job Cut: may fire 700 employees

The news is not good for the employees of the CAE, which is a Manufacturer of civil full fight simulators for all major aircraft types and an independent provider of aviation training services. Now the situation is getting worse for the employees as the recession is taking a toll on all sectors and all of the sectors are feeling the heat. The latest on to add to the list is the CAE Organization, which may be going for layoffs.
How many employees may be fired in the CAE layoffs?
As per the reports, there can be around 700 layoffs by CAE.

What is the total no. of employees of CAE?
The total no. of employees of CAE is arouond 7000 as of now. Hence the job cuts constitute 10% of the workforce.

What will be the cost and savings by CAE layoffs?
CAE will take a $34-million charge on the layoffs, which will begin this month, and expects to save $15 million a year as a result of the cost-cutting measure.

When will the CAE layoffs happen?
No conrete info is available about the dates.

Which locations and department of employees will be affected by the CAE layoffs ?
600 of the job cuts will be at its St. Laurent complex. The jobcuts will be done in 2 phases, 380 in the next few weeks and 320 in fall season.

What is the primary reasons for CAE layoffs?
Decline for products and services due to the falling airline and aviaation sector is one of the major reasons for layoffs.

Any other news about CAE layoffs
As per MontrealGazette, CAE's revenue rose 17 per cent last year to $1.66 billion, while its net profits jumped 31 per cent to $199 million.
Let's hope that alternative jobs are available to the affected employees of CAE Layoffs Job Cut