Valneva to cut up to 15% of workforce as travel slowdown lowers vaccine demand

Valneva, a French vaccine developer, announced it will lay off between 10% and 15% of its employees.

The cuts are linked to a decline in demand for travel vaccines, which the company says is driven by an emerging adverse trend in travel vaccine uptake across key markets.

As a result, Valneva also lowered its revenue forecasts for the current year.

The move highlights broader challenges for vaccine makers as travel patterns shift in the post-pandemic environment.