NEW DELHI– Danish pharmaceutical giant Novo Nordisk announced Wednesday it will lay off 9,000 employees, about 11 percent of its global workforce, as part of a sweeping restructuring plan aimed at saving $1.3 billion by the end of 2026.
The company said the cuts are intended to streamline operations, speed up decision-making, and shift resources toward high-growth opportunities in diabetes and obesity treatments. Novo Nordisk, best known for its weight-loss drug Wegovy and diabetes medication Ozempic, has been under mounting competitive pressure from U.S. rival Eli Lilly.
“Our markets are evolving, particularly in obesity, as it has become more competitive and consumer-driven. Our company must evolve as well,” CEO Mike Doustdar, who assumed the role last month, said in a statement. “This means instilling an increased performance-based culture, deploying our resources more effectively, and prioritising investment where it will have the most impact — behind our leading therapy areas.”
The job reductions will affect around 5,000 workers in Denmark, the company confirmed. Novo Nordisk currently employs about 78,400 people worldwide. The layoffs follow a global hiring freeze announced last month for non-critical positions.
In a LinkedIn post, Doustdar explained the changes are designed to “realign resources toward high-impact R&D and commercial initiatives while creating a more agile organisation that can respond faster to the evolving needs of millions of patients with chronic diseases.”
Despite the cuts, he stressed the company’s long-term focus remains unchanged: strengthening leadership in diabetes and obesity, expanding global patient access, and advancing treatments for serious chronic illnesses.
“Sometimes the hardest decisions are the right ones for the future we’re building. I’m confident this is the right step for the long-term success of Novo Nordisk,” Doustdar said. (Source: IANS)
