Novo Nordisk Announces Major Layoffs Amidst Obesity Drug Battle
In a surprising move, Novo Nordisk is cutting 9,000 jobs, approximately 11% of its global workforce, due to fierce competition in the obesity drug market, particularly from rivals like Eli Lilly. This restructuring is part of a strategic plan to save $1.25 to $1.3 billion annually by late 2026, allowing redirected investments into key therapies. The layoffs include 5,000 positions in Denmark, highlighting the company's struggle to adapt to a rapidly evolving market landscape.
Sep 11