SNC-Lavalin to cut 4,000 jobs, nine per cent of total

Darpan News Desk The Canadian Press, 06 Nov, 2014 10:45 AM

MONTREAL — SNC-Lavalin says it will reduce the company's global workforce by 4,000, or nine per cent of the total, over an 18-month period starting in 2015.

The Montreal-based engineering and construction company (TSX:SNC) says the job cuts are part of its ongoing efforts to get out of underperforming business segments.

About three-quarters of the downsizing will be directed at SNC's activities outside of Canada.

SNC-Lavalin is one of the world's leading engineering and construction group, with offices in more than 50 countries and about 45,000 employees worldwide serving a variety of industries.

The company has been working for several years to overcome the impact of alleged corruption among some of its former senior executives.

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