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World News

Novavax To Cut 25% Of Global Workforce

View Source | May 10, 2023 9:03 am

  • Vaccine maker Novavax announced Tuesday that it’s reducing its global workforce by 25% in an effort to significantly cut down on expenses and shift its focus to key priorities.
  • The cuts will affect 20% of full-time Novavax employees.
  • The rest will of the cuts will impact contractors and consultants, according to a filing with the Securities and Exchange Commission (SEC). The company has 1,992 full-time employees.
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