SNC-Lavalin cutting 405 jobs
Engineering giant SNC-Lavalin is cutting another 405 jobs in Canada due to the weakness in the mining sector and ongoing efforts to boost its profit margin.
Spokesman Louis-Antoine Paquin says the company will eliminate 186 positions in Montreal, 195 in Ontario and 24 in Saskatoon, says spokesman Louis-Antoine Paquin.
About 70 per cent of the positions are in the mining and metallurgy division.
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SNC-Lavalin's office in Sudbury, Ont., will close, although employees will work directly with customers at their operations.
SNC-Lavalin has a goal of increasing its adjusted margin to seven per cent next year, up from 4.3 per cent in the first nine months of 2016.
Earlier this year, the The Montreal-based company cut 950 jobs around the world, including 600 in Canada. That followed the elimination of 4,000 positions in 2014.