Moderna plans to cut 10% of its workforce by year-end due to declining Covid shot sales. CEO Stephane Bancel expects fewer than 5,000 employees by 2025, down from 5,800 in 2024. Shares have fallen over 20% this year as the company faces policy changes under HHS Secretary Robert F. Kennedy Jr. and aims to reduce operating expenses by $1.5 billion by 2027. Quarterly results will be shared soon. Bancel states restructuring is essential for financial discipline, despite efforts to avoid job cuts. The company has three approved products and potential for eight more in the next three years. The FDA recently approved Moderna’s new lower-dose Covid-19 vaccine.

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