Novo Nordisk Announces Major Restructuring Under New Leadership

Danish pharmaceutical giant Novo Nordisk has unveiled a sweeping workforce reduction plan that will eliminate approximately 9,000 positions, representing about 11% of its global workforce. This dramatic move comes as newly appointed CEO Mike Doustdar takes decisive action to address mounting competitive pressures and disappointing financial performance.

Mike Doustdar, who assumed leadership in late July, has moved quickly to implement what the company describes as a “comprehensive transformation program.” The initiative aims to achieve annual savings of $1.25 billion by the end of 2026. The most significant impact will be felt in Denmark, where 5,000 jobs will be cut?an unusually severe reduction for the company’s home country.

The leadership transition occurred following the departure of former CEO Lars Fruergaard Jørgensen, who stepped down... Read more...