Wil Research cuts 4% of workforce to weather global gloom

By Gareth Macdonald

- Last updated on GMT

Related tags: Contract research, Contract research organization

US non-clinical contract research firm Wil Research Laboratories has reduced its 700 strong workforce by 4 per cent, citing a drop in business due to the global economic downturn as the basis for the cuts.

Wil, which conducts contract research on behalf of the pharmaceutical, biotechnology and chemical industries, provides a range of analysis at its laboratory in Ashland, Ohio, US.

The company explained the reasoning behind the job cuts. It said that: “big pharma and biotechnology firms…have focused on advancing late-stage candidates and acquisitions in favour of funding early stage development activities​.”

CEO Mark Nemec explained that: "Like other global companies operating in the professional services sector, our organisation has not been completely excluded from the wake created by the deterioration in the nation's economy​."

Nemec, who replaced former head Joseph Holson late last year, told the Ashland Times Gazette​ that: “The positions eliminated were mainly support jobs away from the scientific mainstream​,” adding that he does not expect to make further cuts.

Wil’s difficulties are not unique among contract research organisations (CRO). In recent weeks most of the major industry players like Kendle, Parexel and PPD, have scaled back their financial expectations for 2009 citing a drop off in demand.

Covance and Charles River Laboratories (CRL), which tend to focus on early-stage trials and hence provide the best comparison for Wil, are also undergoing similar order book difficulties.

Both firms posted reduced Q1 income and Covance cut its earnings per share guidance to between $2.50 and $2.70.

Related topics: Preclinical Research, Preclinical

Related news

Show more

Related products

show more

Validating The Simoa Technology

Validating The Simoa Technology

Frontage Laboratories | 01-Oct-2019 | Technical / White Paper

Frontage is the first and only laboratory to validate Quanterix’ Simoa HD1 Analyzer for performing immunoassays. Most of the advanced instruments used...

Related suppliers

Follow us

Products

View more

Webinars