By The Canadian Press
Posted April 6, 2020 9:12 am
Updated April 6, 2020 9:17 am
Community Interviews with Moose FM
2:01COVID-19 companies developing PPE to help health care workers
A few Montreal-based companies have decided to do their part in helping health-care workers by developing and delivering personal protective equipment (PPE). As Global’s Tim Sargeant reports, they’re distributing important equipment such as ventilators and surgical masks to front-line workers.
CAE Inc. is temporarily laying off about a quarter of its staff, cutting salaries and suspending its dividend and share repurchase plan in response to the COVID-19 pandemic.
The company, headquartered in Montreal, says it is temporarily laying off 2,600 of its 10,500 employees and placing another 900 employees on a reduced work week.
The company also announced salary freezes and salary reductions for staff not affected by reduced work weeks.
It says its chief executive and executive team will take a 50 per cent reduction,