A lack of work in the project pipeline has led Aecon Group to cut nine salaried positions at its Timmins mining contracting office.
“We’re scaling back,” said Aecon spokeswoman Nicole Court. “The business did experience, over the course of the last few years, some challenges in securing new work. It was a matter of looking at the business and (evaluating) what we could sustain.”
An unspecified number of employees will be transferred to other Aecon projects in the region where possible. Eight employees remain at the Timmins location.
Court was quick to quell rumours that the office was permanently closing. “It’s remaining open for the foreseeable future.”
Aecon has been a presence in Timmins since 2007 when it acquired the construction and mining equipment assets of Leo Alarie and Sons, one of the region’s largest construction companies.
In its third-quarter results, Aecon reported net profits of $39.5 million, up for $34.4 million during the same period last year. However, revenues slipped to $840.4 million from $897.3 million due to delays in ramping up new projects from cautious clients in the resource sector.
