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Quebec-based Heroux-Devtek to cut 225 aerospace jobs due to drop in demand
LONGUEUIL, Que. – Heroux-Devtek Inc. says it will reduce its workforce by 10 per cent, or about 225 employees, due to falling demand in the commercial aerospace market due to the COVID-19 pandemic.
About 125 of the job cuts are in Quebec, where Heroux-Devtek has its head office and largest operations.
It says the former Alta Precision plant will also close.
The company manufactures landing gear for military and civilian aircraft.
Heroux-Devtek says its activities in the defence market generally have been insulated from the economic impact of the pandemic.
The restructuring will be completed during the remainder of its 2020 financial year, which ends June 30.
The company estimates it will take a $12-million non-recurring charge related to the downsizing in the first quarter of its 2021 financial year.
This report by The Canadian Press was first published May 5, 2020.
Companies in this story: (TSX:HRX)
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