We initiate the first systematic study of the NP-hard Cluster Vertex Deletion (CVD) problem (unweighted and weighted) in terms of fixed-parameter algorithmics. In the unweighted case, one searches for a minimum number of vertex deletions to transform a graph into a collection of disjoint cliques. The parameter is the number of vertex deletions. We present efficient fixed-parameter algorithms for CVD applying the fairly new iterative compression technique. Moreover, we study the variant of CVD where the maximum number of cliques to be generated is prespecified. Here, we exploit connections to fixed-parameter algorithms for (weighted) Vertex Cover.