“Our markets are evolving, particularly in obesity, as it has become more competitive and consumer-driven. Our company must evolve as well. This means instilling an increased performance-based culture, deploying our resources ever more effectively, and prioritizing investment where it will have the most impact – behind our leading therapy areas,” says Mike Doustdar, Novo Nordisk president and CEO.

Total annualized savings of around DKK 8 billion by the end of 2026

The workforce reduction is expected across the company, including staff areas and headquarters functions, and is expected to deliver total annualized savings of around DKK 8 billion by the end of 2026, the company states.

The implementation will begin immediately, and the company expects to communicate with affected employees over the next few months, pending negotiations as per local legal labour market requirements.

Maziar Mike Doustdar, CEO, Novo Nordisk.

“It is always difficult to see talented and valued colleagues go, but we are convinced that this is the right thing to do for the long-term success of Novo Nordisk. We need a shift in our mindset and approach so we can be faster and more agile,” says Doustdar.

Diabetes and Obesity

The savings will be redirected to growth opportunities in diabetes and obesity, including commercial execution initiatives and R&D programmes.

Further, additional initiatives are to be implemented to enhance organisational focus, performance culture and speed of decision-making as well as cost efficiencies, states the company.