Denmark-based pharmaceuticals major, Novo Nordisk’s Chief Executive Officer (CEO) Mike Doustdar, on Friday, 31 October 2025, said that the company has notified its employees who have been impacted by the job cuts in the majority of locations amid the company-wide restructuring drive.
CEO Mike Doustdar also said that the pace of the notifications can vary due to the impact of the local laws, but the company aims to operate with transparency and respect.
“We have now notified impacted colleagues in the vast majority of our geographies, though the pace varies according to differences in local laws. In all our interactions, we have always sought to operate with transparency and respect,” said Mike Doustdar in his post on Friday.
Doustdar also said that the company is undergoing a firm-wide transformation, which is essential for the future of the pharma major.
Novo’s job cut plans
According to a Reuters report, the pharma company plans to cut 9,000 jobs as Novo Nordisk CEO launched a company-wide restructuring last month. The company is facing heated competition in the US market amid its weight loss drug battle.
According to earlier reports, the company aims to reduce its costs while it competes with rival pharmaceutical major Eli Lilly in the weight-loss drug market with its drug named Wegovy.
The news reports suggested that the company started laying off people starting from 14 October 2025, where teams like human resources, clinical development, rare diseases, medical and regulatory, legal, ethics and compliance, marketing and sales, finance, public affairs, and other departments were affected.
The pharma company’s plan to lay off 9,000 people comes amid the CEO’s attempt to restore investors‘ confidence in the company while focusing on tighter confidence on commercial execution and on the obesity and diabetes therapeutic areas.
CEO Mike Doustdar also highlighted that the former employees who are open to working and have been laid off on LinkedIn are ‘good people’ who have a lot to offer.
“For anybody who sees a former colleague with the ‘Open to Work’ badge or who receives a CV on their desk from someone who spent time with us: they are good people, who have a lot to offer,” said Doustdar in his post.
Shares of Novo Nordisk closed 2.09% lower at 315.95 Swedish krona on the Denmark stock exchange on Friday, 31 October 2025, compared to 322.70 Swedish krona at the previous market close.