Flight Simulator Maker CAE Slimming Down Ahead of Schedule, CEO Says
CAE Inc. chief executive Matthew Bromberg says the flight simulator maker is shrinking its global footprint more quickly than planned, as it launches into the second half of a yearlong overhaul aimed at cutting costs. The Montreal-based company now expects to retire 16 to 18 flight simulators by the end of its fiscal year in [...]
TL;DR
- CAE Inc. is accelerating its cost-cutting overhaul.
- The company now plans to retire 16 to 18 flight simulators by the end of its fiscal year, up from 13 to 15.
- CAE will close up to six civil training centers.
- Over 500,000 square feet will be shed from its global operating network.