Rape. Russell Fry, Rupee.
Biotech company Modern said on Thursday that it plans to cut 10% of its global workforce and is expected to be less than 5,000 employees by the end of the year.
The move is part of the company’s ongoing effort to reduce its annual operating expenses by 2027 by about 1.5 billion dollars, saying on Thursday by modern CEO Stephen Bansal. Internal letter Employees.
Modern is relying on its new MRNA vaccines, including its experimental Kovid -FLU combination shot, to offset the declining sales of its Kovid -19 vaccine and Respiratory homogeneous virus vaccineReuters told.
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Is located in the company Cambridge, Massachusetts, Efforts have been made to avoid job cuts, including reducing research and development, reducing manufacturing expenses and re -organizing suppliers contracts.
Stephen Bensel, CEO of Modern Inc., Davos, during a panel session at the World Economic Forum in Switzerland on 23 January 2025 during a panel session. (Stephen Vermutha / Bloomberg Getty Image / Getty Image)
“This decision was not made lightly,” he said. “It impresses the teammates and friends of the team who have dedicated themselves to our mission and who have helped in modern.
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earlier this year, Company According to Reuters, its annual operating costs for 2027 are between $ 4.7 billion and $ 5 billion.
Serring in front of a modern logo in a depiction from 27 November 2021. (Reuters/Deaddo Ruvik/Drawing/File Photo/Reuters)
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The company’s stock is more than 90% which was during it Kovid-19 epidemicAccording to Reuters.
An employee showed the modern Kovid -19 vaccine at the Long Island Jewish Valley Stream Hospital in Northwell Health in New York on December 21, 2020. (Reuters / Reuters Photos)
In the letter, Bensel said that modern has three approved products and may have more than eight product approval over the next three years. He also said that he will provide Employee with More information about trimming at a company meeting on Friday.
“We are intensifying our attention, getting thin, and being ambitious in oncology, rare diseases and latent viruses,” Bankel said.
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Modern did not immediately respond to the request of Fox Business for comments.
