Novo Nordisk to Cut 9,000 Jobs Globally Amid Strategic Change

Danish pharma giant slashes workforce and trims profit outlook as it refocuses on growth in diabetes and obesity segments. Novo Nordisk A/S has announced plans to cut 9,000 jobs globally, about11% of its workforce, as part of a sweeping transformation strategy aimed at restoring financial performance and driving future growth.

Approximately 5,000 of the affected positions will be in Denmark, the company’s home base. With these cuts, Novo aims to achieve cost savings of DKK 8 billion ($1.3 billion) by the end of 2026.

Profit Forecast Slashed for the Third Time in 2025

Alongside the job cuts, Novo Nordisk issued its third profit forecast revision of the year. The company now expects operating profit growth of 4% to 10% at constant exchange rates, a sharp drop from its previous estimate of up to 27%, announced in February. The revised outlook reflects continued headwinds for the drugmaker, including increased competition and internal inefficiencies.

The job reductions are part of a broader company-wide transformation aimed at simplifying organisational structures, speeding up decision-making, and reallocating resources toward high-growth areas such as diabetes and obesity care.

In a statement, Novo said it would begin communicating with affected employees over the coming months and emphasised plans to reinforce a stronger “performance culture” internally.

Leadership Change Sparks Cost Discipline

This strategic reset follows the recent appointment of Mike Doustdar as CEO, who took over the role last month. Since stepping in, Doustdar has already implemented cost-containment measures, including a hiring freeze for non-essential roles and the withdrawal of job offers for new employees who hadn’t yet started.

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Losing Ground in the Obesity Drug Market

Novo’s aggressive restructuring comes as it faces increasing pressure in the U.S. obesity drug market, where rival Eli Lilly & Co. has recently overtaken the company’s lead. In addition, Novo is contending with the rise of cheaper compounded alternatives to its blockbuster drugs, especially in the U.S., which has further eroded its competitive edge and squeezed profit margins.

While the job cuts are substantial, they mark a critical pivot in Novo Nordisk’s efforts to streamline operations and reposition itself in key therapeutic areas.

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