BioNTech said it would close some manufacturing sites and shrink its workforce. The company has a headcount of 8,400, according to a company spokeswoman. "BioNTech to Close Sites, Cut Quarter of Workforce in Savings Push," at 1115 GMT, incorrectly said the company would cut nearly a quarter of its workforce and employed roughly 7,800 people at the end of last year. The correct version follows:
By Adria Calatayud
BioNTech said it would close some manufacturing sites and shrink its workforce in an effort to cut costs as it works to bring its cancer therapies to the market.
The German biotechnology company said Tuesday that it would exit operations at some manufacturing plants in Germany and Singapore, as well as sites it acquired as part of its CureVac takeover, affecting 1,860 positions in total. The company has a global workforce of about 8,400 employees, according to a company spokeswoman.
The company said it was exploring partial or total sales for the sites, and that it expected cost savings from the move to ramp up over time and potentially reach 500 million euros ($584.6 million) on an annual recurring basis in 2029.
BioNTech rose to prominence during the Covid-19 pandemic, when it developed the first shot through a partnership with Pfizer, but has pivoted to cancer therapies in recent years.
The company said the savings would help it as it seeks to move its oncology pipeline toward commercialization.
The effects of seasonal demand for Covid-19 vaccines led BioNTech to report a decline in first-quarter revenue to 118.1 million euros compared with 182.8 million euros for the same period last year. Its net loss widened to 531.9 million euros from a loss of 415.8 million euros.
The company reiterated its full-year guidance.
Write to Adria Calatayud at adria.calatayud@wsj.com
(END) Dow Jones Newswires
May 05, 2026 10:52 ET (14:52 GMT)
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