(Reuters) – French drugmaker Valneva said on Thursday it was expecting to reduce 20% to 25% of its existing workforce as part of a revamp strategy.
The group, which develops, manufactures and distributes vaccines against infectious diseases, said it expected the resizing to result in annualised savings of approximately 12 million euros ($12.04 million).
($1 = 0.9968 euros)
(Reporting by Dina Kartit and Valentine Baldassari; Editing by Muralikumar Anantharaman)
