Ouch. SCi to cut 25 per cent of jobs, cancels 14 projects.

Production services to move from London to Montreal as part of radical restructuring

The company plans to operate at a maximum head count of 800, a reduction of 25 per cent, while the board has decided to cancel 14 projects currently under way as they will not generate an acceptable return on investment or are not of sufficient quality.

Tough talk to show investors that the new people mean business, I guess. I wonder how it will work out.