Charles River Laboratories Reduces Workforce by 3% Amid Q2 Revenue Decline

Workforce Reduction:
Charles River Laboratories is laying off approximately 3% of its workforce, which translates to about 650 employees out of 21,800 total employees as of the end of 2023.

Reason for Layoffs:
The layoffs are part of the company's efforts to streamline its cost structure and optimize its footprint in response to current industry trends and a Q2 revenue drop.

Industry Context:
The biopharma industry has seen significant restructuring and layoffs in 2023 and 2024, with several companies downsizing to stay afloat and realign resources.

Company Statement:
Charles River Laboratories stated that it continuously evaluates its workforce and business operations to ensure alignment with current industry demand and client needs.

Effective Date:
The layoffs are part of ongoing restructuring initiatives, with specific effective dates varying by location, such as September 30 for 13 workers in Frederick, Maryland.