Moderna lays off 500 in latest cost-cutting move.
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By the end of the year, Moderna expects to employ fewer than 5,000 workers globally, down from 5,800 workers at the end of 2024, the company said.
Moderna's core vaccine business has faced numerous challenges in the post-Covid era. Demand and sales of its Covid vaccines have declined, and while the Food and Drug Administration has approved updated jabs, it's done so with restrictions. Moderna's launch of an RSV vaccine has been more difficult than expected due to competition.
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