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Dec 8, 2016

SNC-Lavalin axes another 405 jobs amid mining sector weakness

A man walks past the headquarters of SNC-Lavalin in Montreal

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MONTREAL - 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.

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.

SNC-Lavalin's office in Sudbury, Ont., will close, although employees will work directly with customers at their operations.

SNC-Lavalin (SNC.TO) 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 Montreal-based company cut 950 jobs around the world, including 600 in Canada. That followed the elimination of 4,000 positions in 2014.