Novo Nordisk Layoffs: 9,000 Jobs To Be Cut Globally, Profit Forecast Slashed

Novo Nordisk A/S will slash 9,000 jobs globally, aiming to save DKK 8 billion ($1.3 billion) by the end of 2026, and made its third cut of the year to its profit forecast. 

Novo said operating profit will grow between 4% and 10% at constant exchange rates. The Danish firm had predicted in February that profit could grow as much as 27%.

Novo on Wednesday announced a company-wide transformation to simplify its organization, improve decision-making speed and reallocate resources toward growth opportunities in diabetes and obesity. 

Around 5,000 reductions are expected in Denmark, it said in a statement.