After struggling as a pandemic player, Novavax last year embarked on a company transformation. Part of that overhaul will involve a global workforce reduction of approximately 12%, the company announced on Wednesday. The move follows Novavax’s May 2023 decision to cut 25% of its workforce. Once the layoffs are complete, the company expects to have 30% fewer employees than it did at the end of the first quarter in 2023, according to the press release.
According to Novavax, the transition will allow the company to bring its COVID-19-influenza combination vaccine into Phase III. President and CEO John C. Jacobs said Novavax is “purposefully focusing only on the critical activities needed to achieve our objectives and strengthen the financial performance of the Company.”
https://www.biospace.com/article/biospace-layoff-tracker-2023-athenex-shutters-facility-cuts-staff/