09/10/2025

Novo Nordisk to Cut 11 Percent of Its Staff

Competition in the obesity pharmaceuticals market has taken a toll

Novo Nordisk A/S will slash 9,000 jobs globally and cut its profit forecast for the third time this year as it fights to recover ground lost to its more efficient rival Eli Lilly & Co. in the booming obesity drug market.

The Danish maker of Ozempic and Wegovy said Wednesday it aims to save 8 billion kroner ($1.3 billion) by the end of 2026, plowing the money back into new drug development and sales.

The cuts will impact 11 percent of its workforce, including 5,000 reductions in Denmark, where mass layoffs are highly unusual.

Please select this link to read the complete article from Bloomberg.