Moderna plans to cut about 10% of its global workforce by the end of 2025. The move reflects declining Covid vaccine sales and efforts to reduce operating costs by approximately $1.5 billion through 2027.
“Given the evolving market dynamics, we are adjusting our footprint to reflect current realities,” Moderna CEO Stéphane Bancel said.
https://www.reuters.com/business/world-at-work/moderna-plans-lay-off-10-workforce-cut-costs-2025-07-31
Covid vaccine sales dropped sharply to $114 million in the second quarter of 2025, down from $18.4 billion at their peak. Moderna’s adjusted quarterly loss was $2.13 per share, better than expected, but the company lowered its 2025 revenue forecast to between $1.5 billion and $2.2 billion.
https://www.reuters.com/business/healthcare-pharmaceuticals/moderna-quarterly-sales-beat-street-estimates-covid-booster-sales-cost-cuts-2025-08-01
Moderna is shifting focus to developing new mRNA vaccines, including a COVID-flu combination shot, though regulatory delays have postponed its launch. The company aims for eight new product approvals over the next three years.
The cuts will impact research and commercial operations globally as Moderna navigates a lower-demand, post-pandemic market while investing in diversified vaccine development.