Wegovy Maker Novo Nordisk to Cut 9,000 Jobs

Danish pharmaceutical company Novo Nordisk, maker of the weight-loss drug Wegovy, said it will cut 9,000 jobs — 5,000 of them in Denmark — to sharpen its focus on growth opportunities in obesity and diabetes medications, the Associated Press (AP) reported.

Novo Nordisk, which also produces Ozempic, a diabetes drug that can also lead to weight loss, said the job cuts would begin immediately. (Photo: Novo Nordisk)

The restructuring, which will trim 11% of the company’s workforce, aims to reduce organizational complexity and speed up decision-making as competition in the obesity drug market intensifies.

The streamlining is expected to generate savings of 8 billion Danish krone ($1.25 billion) by the end of 2026, which will be redirected into obesity and diabetes programs, including research and development, the company said.

Novo Nordisk, which also produces Ozempic, a diabetes drug that can also lead to weight loss, said the job cuts would begin immediately. Employees will be informed over the coming months in line with local labor regulations.

Based in Bagsværd, just outside Copenhagen, the company employs 78,400 people worldwide.

“Our markets are evolving, particularly in obesity, as it has become more competitive and consumer-driven,” said President and CEO Mike Doustdar.