Layoffs of 9,000 Employees Worldwide! Novo Nordisk Announces Major Restructuring Under New CEO Mike Doustdar

Novo Nordisk, the Danish pharmaceutical giant behind the blockbuster obesity drug Wegovy, has announced a sweeping company-wide transformation that will result in the layoff of 9,000 employees worldwide, in a bid to streamline its operations and sharpen its focus on high-growth areas such as diabetes and obesity treatments.

Layoffs of 9,000 Employees Worldwide in Novo Nordisk

The company aims to save approximately 8 billion Danish crowns (roughly $1.26 billion) annually through this restructuring initiative. The move underscores the intensifying competition in the global obesity drug market, particularly from U.S. rival Eli Lilly and the broader need for agility in a rapidly evolving healthcare landscape.

In an official statement released earlier this week, Novo Nordisk announced what it called a "company-wide transformation", intended to simplify its organisational structure, accelerate decision-making, and redirect resources toward strategic growth areas.

"Novo Nordisk today announced a company-wide transformation to simplify its organisation, improve the speed of decision-making, and reallocate resources towards the company's growth opportunities in diabetes and obesity," the statement read.

As part of this initiative, 9,000 jobs will be cut globally, with approximately 5,000 of those in Denmark, where the company is headquartered. The job reductions are expected to affect all areas of operation but will not immediately impact sales or production divisions, ensuring that existing drug supply chains and customer services remain unaffected.

New CEO Mike Doustdar Announces Massive Layoffs in First Major Move at Novo Nordisk

The restructuring is the first major strategic decision by Mike Doustdar, who took over as Chief Executive Officer of Novo Nordisk in August 2025, succeeding Lars Fruergaard Jorgensen. Doustdar inherits the leadership of one of the world's most valuable pharmaceutical companies at a time when demand for obesity and diabetes drugs is skyrocketing, but so is competition.

In his statement, Doustdar acknowledged the changing nature of the industry, "Our markets are evolving, particularly in obesity, as it has become more competitive and consumer-driven. Our company must evolve as well."

He further emphasised the need for a performance-based culture within the organization, "This means instilling an increased performance-based culture, deploying our resources ever more effectively, and prioritising investment where it will have the most impact - behind our leading therapy areas."

Although the layoff announcement is significant, Novo Nordisk reassured stakeholders that it remains a strong and stable employer, with a global workforce of approximately 78,400 employees, according to Reuters.