Friday August 14, 2020

Icon to restore staff pay as business recovers from virus

Clinical trials firm reported 10.8% drop in revenues for the three months to the end of June

Ian Guider

Markets Editor

26th July, 2020
Steve Cutler, chief executive of Icon, said that the firm is working with a number of companies on testing Covid-19 treatments

Icon, the Dublin-headquartered clinical trials company, is to restore pay for staff as business recovers from the Covid-19 pandemic.

The company, which employs 15,000 people, took an $18 million (€15.5 million) restructuring charge in the second quarter of the year as it cut costs to deal with Covid-19’s impact. As well as putting a freeze on hiring, the firm reduced contract employees and cut some staff salaries.

“These decisions were not taken lightly at that...

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