11/06/2014 08:19 EST | Updated 01/06/2015 05:59 EST

SNC-Lavalin to axe 4,000 jobs

Montreal engineering conglomerate SNC-Lavalin says it will cut 4,000 jobs over the next 18 months in an attempt to streamline operations and save $100 million.

"SNC-Lavalin plans to scale back certain underperforming activities and adjust, consolidate and streamline some of its operations and corporate structure to improve efficiency, effectiveness and competitive positioning," the company said in a statement.

Part of that will be the loss of about 4,000 jobs, which represents about nine per cent of the company's total workforce.

More to come