Mass layoffs: CGI cuts 55 jobs in Montreal

More than 55 employees of technology consulting firm CGI lost their livelihoods in Montreal last month following a stroke in its real estate portfolio, the multinational said Newspaper, Wednesday.

Last fall, CGI made efforts to review its real estate portfolio and improve its fees globally. As a result, about fifty Quebec workers have just been laid off in the heart of the metropolis. This is in addition to the 19 recent layoffs in Quebec.

“This program affects less than 1% of all employees and will extend to all regions of the world in which we operate,” George Schindler, president and CEO of CGI, told the Journal in a written statement.

“We expect these actions will contribute to our continued investment in talent, including in training our professionals in high-demand areas such as AI,” he continued.

CGI is worth more than $29 billion on the stock market. Founded in 1976, the company employs 91,500 consultants and professionals worldwide.

Its founder and executive chairman is Serge Godin.