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Moderna to slash 10% of workforce as biotech cuts costs, Covid shot sales slow
UNITED STATES, JUL 31 – Moderna aims to cut 10% of its global workforce and reduce expenses by $1.5 billion by 2027 due to declining Covid vaccine sales and increased market competition.
- Moderna announced on July 31, 2025, it will reduce about 10% of its global workforce, aiming for fewer than 5,000 employees by year-end.
- The layoffs respond to declining Covid-19 vaccine sales, increasing competition, and changes in government funding affecting Moderna's business landscape.
- CEO Stephane Bancel stated that the company has lowered expenses by winding down research activities as respiratory studies come to an end, revising supplier contracts, and cutting manufacturing costs.
- Bancel emphasized that the choice was difficult as Moderna aims to cut costs by roughly $1.5 billion while working toward approval of as many as eight new products.
- Moderna's cost cuts illustrate efforts to maintain long-term sustainability amid market shifts, and the CEO expressed thanks to affected employees for their contributions.
35 Articles
35 Articles
Moderna plans to slash 10% of workforce as COVID shot sales slow
Biotech company Moderna said Thursday it plans to cut 10% of its global workforce and expects to have fewer than 5,000 employees by the end of the year. The move is part of the company's ongoing effort to lower its annual operating expenses by around $1.5 billion by 2027, Moderna CEO Stéphane Bancel said Thursday in an internal letter to employees.Moderna has been relying on its new mRNA vaccines, including its experimental COVID-flu combination…
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Moderna is laying off 10% of its workforce. Does RFK Jr. have anything to do with it?
Biotech giant Moderna announced it will lay off 10% of its workforce in a move CEO Stéphane Bancel called “a difficult decision but necessary step forward,” in an internal memo sent to employees on July 31. The move sent Moderna’s stock price (NASDAQ: MRNA) tumbling over 5% through Thursday morning, and signals a further contraction of the once fast-growing business. “I know this is a difficult moment for the company,” Bancel said in the memo an…
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