Denmark-based pharmaceutical giant Novo Nordisk has informed most of its affected employees about ongoing job cuts as part of a global restructuring initiative, CEO Mike Doustdar announced on Friday, 31 October 2025. He noted that while the notification pace varies across countries due to local labor laws, the company is prioritizing transparency and respect throughout the process.
According to Reuters, Novo Nordisk plans to eliminate around 9,000 positions as part of a cost-cutting effort aimed at strengthening its competitive position in the U.S. weight-loss drug market, where it faces tough rivalry from Eli Lilly. The layoffs, which began on 14 October 2025, span multiple departments including HR, clinical development, marketing, finance, legal, and public affairs.
Doustdar emphasized that the restructuring is intended to restore investor confidence and sharpen the company’s focus on obesity and diabetes treatments. He also praised outgoing employees as talented professionals worth hiring. Following the announcement, Novo Nordisk’s shares fell 2.09%, closing at 315.95 Swedish krona on the Denmark Stock Exchange.
