Wegovy-maker Novo Nordisk To Cut 9,000 Jobs In Global Overhaul

Benzinga

Novo Nordisk announced plans to cut about 9,000 jobs, or 11.5% of its global workforce, according to CNBC. The Danish pharmaceutical giant announced a company-wide transformation to streamline operations and refocus resources on growth in diabetes and obesity. The maker of Wegovy said the layoffs include 5,000 positions in Denmark and will result in a one-off cost of $1.26 billion. The overhaul is the first major move by new CEO Maziar Mike Doustdar as the company battles supply issues, increased competition from Eli Lilly, and setbacks with its obesity drug candidate CagriSema.Novo lowered its 2025 operating profit growth outlook to 4% to 10%, down from 10% to 16% previously. Shares rose 4.1% in London trading.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:03Novo Nordisk announced plans to cut about 9,000 jobs,

00:06or 11.5% of its global workforce, according to CNBC.

00:11The Danish pharmaceutical giant announced a company-wide transformation

00:14to streamline operations and refocus resources on growth in diabetes and obesity.

00:20The maker of Wegevee said the layoffs include 5,000 positions in Denmark

00:24and will result in a one-off cost of $1.26 billion.

00:28The overhaul is the first major move by new CEO Maziar Mike Daustar

00:33as the company battles supply issues, increased competition from Eli Lilly,

00:38and setbacks with its obesity drug candidate, Kagri Sema.

00:42Novo lowered its 2025 operating profit growth outlook to 4% to 10%,

00:47down from 10% to 16% previously.

00:51Shares rose 4.1% in London trading.

00:53For all things money, visit Benzinga.com.

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