PPD is cutting 270 jobs across nation
Pharmaceutical Product Development, a contract research company for life science firms around the world, says it will lay off 270 workers across the nation, including fewer than 80 at its Wilmington headquarters.
The Star-News of Wilmington reported that PPD (Nasdaq: PPDI) said Wednesday it has strong global demand for its services but demand in North America has been less than expected.
A company spokeswoman says employees losing their jobs will receive severance pay and benefits and employment counseling.
PPD employs about 1,800 people at its headquarters on the banks of the Cape Fear River as well as around 1,500 in the Triangle regionn.
PPD recently also cancelled plans to launch an operation in Kannapolis at the North Carolina Research Campus. The facility would have employed some 300 people. PPD cited delays in construction at the campus as the reason for the cancellation.
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Information from: The Star-News
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