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Moderna to reduce global workforce by 10%

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Moderna is cutting its global workforce by roughly 10%.

The company expects to have fewer than 5,000 workers by year's end. The company had 5,800 employees at the end of 2024.

"Reshaping our operating structure and aligning our cost structure to the realities of our business are essential to remain focused and financially disciplined, while continuing to invest in our science on the path to 2027," Moderna CEO Stephane Bancel said in a memo to employees.

Read more from CNBC.

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