Canadian simulator manufacturer CAE is cutting 10% of its work force, freezing salaries and mandating five furlough days for every remaining employee as part of a C$15 million (US$12.8 million) annual cost-saving program. The plan comes as CAE reports a 30.6% year-on-year growth in its fiscal 2009 net income to C$199.4 million on 16.8% more revenue, which rose to C$1.66 billion. These increases were attributed to solid improvements at CAE’s military divisions and its civil training unit, ...
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