BioNTech to close four global sites and cut 1,860 jobs
BioNTech will close sites in Germany and Singapore by late 2027 as its co-founders exit. The firm also launched a $1 billion share buyback over the next year.
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BioNTech will cut 1,860 jobs across Germany and Singapore while launching a $1 billion share buyback program. The restructuring follows the exit of co-founders Ugur Sahin and Oezlem Tuereci to launch a new venture. Investors are tracking the biotech's pivot as it hands COVID-19 vaccine production to PFIZER INC.
