Biotech company Moderna plans to cut 10% of its global workforce, reducing employees to fewer than 5,000 by year-end. Moderna aims to lower annual operating expenses by $1.5 billion by 2027. The company’s mRNA vaccines compensate for declining COVID-19 vaccine sales. Moderna CEO Stéphane Bancel expressed gratitude to affected employees.

Read more at Yahoo Finance: Moderna plans to slash 10% of workforce as COVID shot sales slow