New SARS-CoV-2 Variants – Clinical, Public Health, and Vaccine Implications

Trying to get my head around the meaning of "6.7x less effective". Does that just mean the effectiveness is divided by 6.7? IE, Pfizer vaccine goes from 94% to ~14% against P.1? If so, yikes.

Edit: Ah, should have read more closely. Those are decreases in "neutralizing activity in serum samples", but that doesn't correlate directly to decreased efficacy:

The clinical relevance of the lower neutralization activity for either mild or severe Covid-19 is not clear, but efficacy in clinical trials was lower for all three vaccines tested in the midst of transmission of the 501Y.V2 variant in South Africa than efficacy in trials conducted in countries with preexisting variants. Efficacy was higher by a factor of 3.2 with the AZD1222 vaccine in the United Kingdom and Brazil than in South Africa (70% vs. 22%), higher by a factor of 1.8 with the NVX-CoV237 vaccine in the United Kingdom than in South Africa (89% vs. 49%), and higher by a factor of 1.3 with the Ad26.COV2.S vaccine in the United States than in South Africa (72% vs. 57%).