The Danish company Novo Nordisk announced its plans to cut around 9,000 jobs on Wednesday.
File Photo by Ida Marie Odgaard/EPA
Sept. 10 (UPI) -- Novo Nordisk announced plans to cut thousands of jobs on Wednesday as it aims to focus on its diabetes and obesity drugs.
The Wegovy maker said it plans to cut 9,000 of its 78,400 global jobs, including 5,000 in its native Denmark in an effort to "improve speed of decision making" and "reallocate resources towards the company's growth opportunities in diabetes and obesity," according to a press release.
"As the global leader in obesity and diabetes, Novo Nordisk delivers life-changing products for patients worldwide. But our markets are evolving, particularly in obesity, as it has become more competitive and consumer-driven," said CEO Mike Doustdar. "Our company must evolve as well. This means instilling an increased performance-based culture, deploying our resources ever more effectively, and prioritising investment where it will have the most impact - behind our leading therapy areas."
