Pharmaceutical major Novo Nordisk is undergoing a significant company-wide restructuring that has led to substantial job cuts, with CEO Mike Doustdar confirming employee notifications on Friday, October 31, 2025. Doustdar stated that impacted colleagues in the vast majority of geographies have been notified, though the pace of these notifications can vary due to differences in local laws. He emphasized the company's commitment to operating with transparency and respect in all interactions, underscoring that this transformation is essential for the future of the Danish pharma giant.

According to reports, Novo Nordisk plans to cut a total of 9,000 jobs as part of this extensive restructuring drive, which CEO Mike Doustdar initiated last month. The layoffs reportedly began as early as October 14, 2025, affecting a wide array of departments. These include human resources, clinical development, rare diseases, medical and regulatory, legal, ethics and compliance, marketing and sales, finance, public affairs, and other areas within the organization.

The primary motivations behind these drastic measures are multi-faceted. Novo Nordisk is currently facing heated competition, particularly in the competitive US market for weight-loss drugs. The company, with its drug Wegovy, is battling rival pharmaceutical major Eli Lilly, necessitating a strategic focus on cost reduction to maintain its competitive edge. Furthermore, the CEO's initiative aims to restore investors' confidence in the company while concentrating on tighter commercial execution and prioritizing the obesity and diabetes therapeutic areas, which are key strategic segments for the firm.

In a notable gesture, CEO Mike Doustdar also took to social media to acknowledge the employees affected by the job cuts. He highlighted that former employees who are openly seeking new opportunities, such as those with an ‘Open to Work’ badge on LinkedIn or whose CVs land on a desk, are "good people, who have a lot to offer." This statement reflects an effort to support those departing the company during this transitional period.

The financial markets reacted to the news, with shares of Novo Nordisk closing 2.09% lower at 315.95 Swedish krona on the Denmark stock exchange on Friday, October 31, 2025. This compared to a close of 322.70 Swedish krona at the previous market close, reflecting the immediate investor sentiment following the announcement of the extensive job cuts and restructuring.