Charles River Cuts 300 Jobs, But Its Web Site Says…
5 CommentsBy Ed Silverman // November 4th, 2010 // 9:19 am
Here is an odd disconnect. Late yesterday, Charles River Laboratories reported disappointing third-quarter earnings and disclosed, among other things, that 4 percent of its workforce, or 300 jobs, would be eliminated. This follows the elimination of 300 positions earlier this year.
Ironically, the main page does offer this oddity: the featured careers tab reports that “Charles River is expanding our team.” True, select positions are always being filled even during a period of retrenchment, but this comes off as a bit misguided. Perhaps, Charles River execs are hoping no one will notice the incongruity. There is no hiding from investors, however. As of this writing, the stock is down about 5 percent.
Hat tip to CEN’s Lisa Jarvis
Lacerta Bio
Could it be a geographic anomaly? That is, US lay offs coupled with ex-US expansion?
industry insider
Maybe they’re compensating by increasing their output of lab rats.
http://www.criver.com/en-US/ProdServ/ByType/ResModOver/ResMod/Pages/SpragueDawleyRat.aspx
industry insider
I also heard that they’re re-naming the company Yalu River.
Anne PME
Aah…the benefits of technology and social media…
John
No, were not changing the name, got to love rumors