Novavax announces another round of layoffs, lets go 12% of employees
Novavax is cutting 12% of its full-time employees and contractors, and its total workforce will now be approximately 30% smaller than what it was a year ago.
As of Feb. 21, 2023, Novavax had 1,992 employees, according to SEC filings. The vaccine maker, which has struggled to claim much market share for its protein-based Covid-19 shot, laid off approximately 400 workers in May 2023, which amounted to about one-quarter of its workforce. The layoffs came after Novavax’s cost-cutting in the first quarter of 2023, which helped lower expenses by $50 million.
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