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Hundreds of PRACS Employees Out of Work - Valley News Live - KVLY/KXJB - Fargo/Grand Forks

Hundreds of PRACS Employees Out of Work

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UPDATE:

Emotional words tonight from one of hundreds of PRACS employees, who have been told they are out of a job.

The Pracs Institute unexpectedly closed down all locations tonight.

The clinical studies company employs hundreds in Toronto, St. Louis, and here in Fargo- where those workers were told in a meeting not to come in tomorrow.

Details still aren't clear.

One worker said the company was declaring bankruptcy, but calls to upper management haven't been returned to confirm that.

It came as a surprise to all, as workers packed their belongings and drove off without knowing where their next paycheck will come from.

Those employees tell us they had a good relationship with their CEO in Fargo, but when investors bought out the company things started to head south.

"No one saw it coming," Beth Anderson, a clinical research coordinator for PRACS said, as she packed the belongings from her desk into her car.

Hundreds employees showed up to work at the PRACS Institute in Fargo this morning, unaware of what message awaited.

"I showed up to work, everything was business as usual. We did have a meeting this morning," Beth said. "I guess the investors let Dr. Carlson, our CEO, know that he had to cut expenses."

Workers say they knew upper management was looking to shut down other locations, but they had no idea their work wasn't making the cut.

"They just didn't want to fund it any more," she said.

And though Beth Anderson has been employed with PRACS for 10 years, she went home this evening without a job or any kind of compensation.

"Dr. Carlson let us know if he could talk to investors and reason with them, he said we'd have a meeting at 4:30 and that's when we found out."

Employees were told to keep their phones close, in case a miracle came through with some kind of hope. But, after today's surprise, few are holding their breath.

Those employees say they're not sure what their next move is, or what will happen to the patients in Fargo's clinical studies location.

They said the chemicals and tools of their medical experiments will all have to be disposed of accordingly.


 

ORIGINAL STORY:

Valley News Live has confirmed hundreds of employees of PRACS Institute are out of a job as of Wednesday night. 

PRACS employees say a meeting was called Wednesday afternoon to notify employees and e-mail notices were also sent out letting them know their positions have been cut. The PRACS Institute location in Fargo employs about 150-200 people. Between the Fargo site and a site in St. Louis, Missouri, around 300 people were employed.

Valley News Team's Hope Hanselman is talking with former employees, check back to this web story later tonight for more details.

According to the PRACS Institute web site, the company focuses on full-service early phase clinical studies, using 30 years of know-how experience and standards we have set for Phase I clinical conduct.

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