Con­tra­cep­tive mak­er Evofem lets com­mer­cial chief go, cuts CEO pay 40% to save cash

A month af­ter say­ing it would look for “strate­gic al­ter­na­tives,” con­tra­cep­tive mak­er Evofem Bio­sciences’ board has ap­proved lay­offs and a 40% cut to the CEO’s salary.

The biotech said in an SEC fil­ing that its chief com­mer­cial of­fi­cer role, helmed by Kather­ine Atkin­son, was elim­i­nat­ed on St. Patrick’s Day. The women’s health biotech al­so let go of sev­en oth­er of­fice and man­age­ment po­si­tions and re­duced CEO Saun­dra Pel­leti­er’s base salary by 40% to about $520,000 for the rest of this fis­cal year, and oth­er ex­ec­u­tives’ pay was cut by 20%.

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