Leading biotech and pharma CRO Charles River Laboratories (CRL) said it’s axed 3% of its workforce. The company currently has about 9,000 employees so that puts the number of pink slips at 270.

Ouch. Big number.

The cuts came in the first quarter and mainly hit the company’s Preclinical Services (PCS) business segment and the employees at its Arkansas facility, which is in the process of closing.

In addition to the axes, a hiring and salary freeze will combine to save CRL $20M in 2009. The severance cost also put the firm $7.1M in the hole for Q1, which equals about $26K in severance/employee.

Just for kicks, here’s the 2008 salaries and bonuses (Name/Title/Pay/Exercised Stock) for CRL’s top 5 executives. No word on whether they experienced a salary freeze in Q1.

• James Foster – CEO – $1.77M, $1.81M

• Thomas Ackerman – CFO – $ 733K, $502K

• Real Renaud – Pres of Global Research Model Products & Services - $882K, $1.17M

• Nancy Gillett – Pres of Global Pre-Clinical Services – $551K, $483K

• David Johst – Chief Admin. Officer, Sec. and Gen. Counsel – $807K, $4.95M

The bloodbath goes on (for some)…

Image from brandeis

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