Moderna to slash 10% of workforce as biotech cuts costs, Covid shot sales slow

1. Moderna plans to cut 10% of workforce due to declining Covid shot sales. 2. The company will reduce operating expenses by $1.5 billion by 2027. 3. Shares of Moderna have dropped over 20% this year amid market uncertainty. 4. CEO cites operational restructuring to align costs with business realities. 5. Moderna has potential for up to eight new products by 2027.