Flight Training Firm CAE Cuts Jobs Ahead of May Business Update

Canadian flight simulator firm CAE Inc. is cutting 2% of its global workforce as part of a restructuring put forward by its new leader.

Chief Executive Officer Matthew Bromberg, appointed in August with a mandate to double profits over the next three to four years, told employees in a letter that CAE must take “several necessary steps” to respond to market changes. Demand has softened in parts of its civil aviation business, but geopolitical instability is opening up opportunities for its defense and security unit.