Denmark-based Novo Nordisk, the manufacturer of the popular Ozempic diabetes medication, announced on Sept. 10 that it plans to reduce its global workforce by 9,000 employees by the end of 2026 amid intensifying competition in the obesity market, particularly in the United States.
In a company statement, Novo Nordisk said the reduction is needed to increase speed and redirect resources to more growth opportunities within the diabetes and obesity treatment industry. The company predicts savings of DKK (the Danish Krone) 8 billion, about $1.25 billion, by the end of 2026.
