CAE Cuts Workers 10%, Costs On Expected Dip in Commercial Sales

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...

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