CAE: SimuFlite Escapes Restructurin
Montreal-based simulator manufacturer and training organization CAE announced a restructuring plan, including several hundred layoffs, to take effect April 1. The move is aimed at restoring the company’s profitability. The company told AIN that its SimuFlite unit is “doing well” and is not affected by the reorganization. CAE, which in the quarter ending December 31 recorded a net loss for the quarter of C$347 million, said it was hurt by a number of factors, including the “erosion” of the 30- to 50-seat regional jet market. CAE will keep its civil and military groups, but will also create a simulation products group to consolidate manufacturing and engineering. “These functions had previously existed in the other two groups, resulting in duplication,” CAE said.