Moderna to Cut 10% of Workforce Amid Cost-Saving Measures
TL;DR Summary
Moderna plans to cut about 10% of its global workforce by the end of 2024 due to declining Covid vaccine sales and market challenges, as part of a broader cost reduction strategy amid financial pressures and policy hurdles. Despite these cuts, the company remains optimistic about its future product pipeline, with several new vaccines in development.
- Moderna to slash 10% of workforce as biotech cuts costs, Covid shot sales slow CNBC
- More than 800 Moderna employees will lose their jobs this year as costs are slashed MarketWatch
- Moderna to Cut 10% of Staff to Offset Slowing Covid Business Bloomberg
- Moderna to cut 10% of workforce, CEO tells staff, as part of $1.5B savings effort Endpoints News
- Moderna lays off 500 in latest cost-cutting move. The Boston Globe
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