Novo Nordisk to Cut 9,000 Jobs in Major Global Restructuring

Novo Nordisk is embarking on a sweeping global restructuring program that will eliminate 9,000 jobs; approximately 11–11.5 percent of its 78,400-strong workforce. Around 5,000 of these reductions will take place in Denmark. The move is intended to simplify the organisation and hasten decision-making as the company contends with mounting competitive pressures, particularly in obesity treatments from rivals such as Eli Lilly, and slowing growth in key markets. The firm has already imposed a hiring freeze for roles deemed non-critical.

This restructuring is expected to yield annual savings of nearly 8 billion Danish kroner (about $1.25 billion) by 2026, although it will incur one-off costs of around 9 billion kroner (~$1.26 billion) in the third quarter. Novo has revised its operating profit growth forecast for 2025 downwards to between 4 percent and 10 percent, from the earlier range of 10–16 percent. Shares have fallen significantly over the year (declining by about one-third) yet saw modest gains in reaction to the cost-cutting announcement.