Novo Nordisk Plans Additional Job Cuts

By Akia Thorpe -

November 2, 2018

Following previously announced plans to restructure its R&D organization, Novo Nordisk has announced that a number of additional restructuring initiatives across functions and geographies have been initiated to support the commercial activities for its portfolio of innovative products. As a consequence, the company says its total workforce is expected to be reduced by approximately 1,300 employees before the end of 2018 with the majority of these having been implemented as of November 1, 2018. The company made the announcement as part of its third-quarter 2018 earnings release.

The latest restructuring follows previously announced staff reductions of 650 by the company during September and October of this year, primarily in research and development (R&D) roles. In October 2018, the company announced staff reductions of approximately 250 employees in the US in undisclosed functions. In September 2018, the company announced staff reductions of 400 employees in R&D roles in China and Denmark.

“Novo Nordisk has communicated plans to restructure the R&D organization to accelerate the expansion and diversification of its pipeline and to enable increased investment in transformational biological and technological innovation,” the company said in its third-quarter earnings release. “A number of additional restructuring initiatives across functions and geographies have been initiated to support the commercial activities for the portfolio of products. As a consequence, the total workforce is expected to be reduced by approximately 1,300 employees before the end of 2018 and the majority of these reductions have been implemented as of 1 November 2018.”

Source: Novo Nordisk