In a sweeping restructuring move, Danish Pharmaceutical Novo Nordisk will cut 9,000 jobs or 12 per cent of the workforce.
The decision, released on Wednesday, aims to save $1.3 billion and focus on Diabetes and Obesity.
The layoffs come at a critical time for the world’s leading producer of diabetes and weight loss drugs, as it faces mounting competitive pressure from US rival Eli Lilly.
Novo Nordisk’s blockbuster drugs, Wegovy and Ozempic, face slower growth and market share loss in the USA.
Of the 9,000 job cuts, nearly 5,000 are expected in Denmark, the company’s home base.
The announcement follows a global hiring freeze imposed last month for non-critical roles.
The company currently employs around 78,400 people worldwide.
He reaffirmed that Novo Nordisk’s long-term mission remains unchanged, that is, to deepen its leadership in diabetes and obesity and continue to fight against serious chronic disease.
Explaining the rationale, Doustdar, the CEO, wrote on LinkedIn that the changes will help realign resources towards high-impact research and commercial initiatives.
“Sometimes the hardest decisions are the right ones for the future we’re building,” Doustdar said, expressing confidence in the company.
Also Read: Google Launches AI-Powered Search Mode In Hindi For Global Users
Redmi to launch K90 Pro Max 5G in China on October 23 with Bose audio…
At Delhi’s Nizamuddin Dargah, the Muslim Rashtriya Manch’s ‘Jashn-e-Chiragh’ marked Dhanteras with prayers for peace…
PIB issues a warning over fraudulent SMS asking users to update delivery addresses within 12…
Dr Manan Vora highlights eight common daily habits, from late-night meals to prolonged sitting, that…
Gastroenterologist Dr Shubham Vatsya warns that overindulging in sweets can accelerate ageing and health risks,…
Zoravar Singh Sandhu wins trap bronze at ISSF 2025, earning Doha World Cup Final spot;…