Headlines
Novo Nordisk CEO says job cuts affecting 9,000 staff almost complete
Published by Global Banking and Finance Review
Posted on October 31, 2025
1 min readLast updated: January 21, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on October 31, 2025
1 min readLast updated: January 21, 2026
Novo Nordisk's CEO announced that the global job cuts affecting 9,000 employees are almost complete, with variations in pace due to local laws.
COPENHAGEN (Reuters) -Novo Nordisk has notified employees impacted by the drugmaker's job cuts in the vast majority of its locations although the pace varies according to local laws, its CEO Mike Doustdar wrote in a post on LinkedIn on Friday.
Doustdar launched a restructuring drive last month, including 9,000 job cuts globally as Novo faces heated competition in the United States, the world's biggest drug market, against rival Eli Lilly.
(Reporting by Stine Jacobsen, writing by Louise Breusch Rasmussen, editing by)
Restructuring refers to the process of reorganizing a company's structure or operations to improve efficiency and adapt to changing market conditions. This often involves changes in management, workforce, or business processes.
Job cuts refer to the reduction of employees in a company, often due to financial constraints, restructuring, or changes in business strategy. This can lead to layoffs and impact the workforce significantly.
Corporate strategy is a comprehensive plan that outlines how a company will achieve its goals and objectives. It includes decisions about resource allocation, business development, and competitive positioning.
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