Novo Nordisk to Cut 9,000 Jobs Globally as New CEO Targets $1.3B Savings by 2026

Novo Nordisk announced a major global layoff of 9,000 employees—about 11% of its workforce—including 5,000 in Denmark and 4,000 in other countries145.

The new CEO, Mike Doustdar, is implementing this restructuring to redirect resources toward core growth areas such as diabetes and obesity drugs like Wegovy and Ozempic134.

The restructuring is set to save the company $1.25–$1.3 billion annually by late 2026, while incurring one-off costs of about $1.26–$1.41 billion1234.

The job cuts were prompted by slowing sales growth and intensified competition, particularly from Eli Lilly in the weight-loss and diabetes markets24.

Operating profit growth guidance for 2025 was lowered to 4–10%, down from 10–16% previously, reflecting the restructuring costs and competitive pressures123.

Shares of Novo Nordisk initially moved up after the announcement, following a period of stagnation and major leadership change:
Doustdar replaced the outgoing CEO after share price declines4.

Savings from the layoffs will be invested in research and development as well as expanding market share in diabetes and obesity therapeutic areas14.

Sources:

1. https://www.pharmexec.com/view/novo-nordisk-cut-9-000-jobs-global-restructuring-effort

2. https://www.timesnownews.com/business-economy/industry/danish-pharma-giant-ozempic-novo-nordisk-to-lay-off-9000-employees-globally-what-is-behind-the-massive-job-cuts-article-152744460

3. https://www.biospace.com/business/novo-axes-9-000-employees-worldwide-as-new-ceo-makes-good-on-cost-reallocation-promise

4. https://www.cbsnews.com/news/novo-nordisk-nvo-stock-9000-job-cuts-wegovy/

5. https://www.idsnews.com/article/2025/09/novo-nordisk-9000-jobs-cut-layoffs-bloomington-indiana-ozempic-wegovy