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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