Moderna announced layoffs affecting more than 500 employees, approximately 10% of its workforce, as part of a $1.5 billion cost-saving initiative through 2027. CEO Stéphane Bancel emphasized the need to realign the company’s cost structure amid competitive and governmental pressures on its vaccine business. The restructuring follows prior expense reductions, impacting research, manufacturing, and other operations, reflecting strategic adjustments to evolving market realities and business priorities.