Novo Nordisk has announced plans to cut about 9,000 jobs, roughly 11 percent of its workforce, as part of a major restructuring. The Danish pharmaceutical company said the move is aimed at saving around 1.3 billion dollars a year by the end of 2026.
The cuts come as the company faces growing competition in the market for obesity and diabetes treatments, an area that fuelled its rapid rise. Chief executive Maziar Mike Doustdar framed the restructuring as necessary to sharpen focus and control costs.
Novo Nordisk grew into one of Europe’s most valuable companies on the strength of its weight-loss and diabetes drugs. The scale of the layoffs underscores the pressure it now faces to defend that position.
Analysts described the cuts as painful but understandable, given the shifting competitive landscape. The company said the savings would help it invest in priorities while streamlining its operations.
The restructuring marks a significant moment for a firm that has been a pillar of the Danish economy. How smoothly it manages the transition will be watched closely by investors and employees alike.
