Novo Nordisk's Bold Restructuring Amid US Market Competition

Novo Nordisk has informed its employees about job cuts across various locations worldwide, influenced by local laws. CEO Mike Doustdar announced a global restructuring effort, with 9,000 job cuts aimed to tackle fierce competition in the US drug market, primarily against rival Eli Lilly.

Novo Nordisk has begun notifying employees affected by its latest round of job cuts, with the process varying across different regions due to local legal requirements, as revealed by CEO Mike Doustdar on LinkedIn.

The pharmaceutical giant initiated a restructuring campaign last month, proposing 9,000 job cuts worldwide. This move comes as Novo Nordisk navigates the increasingly competitive landscape of the United States, the largest pharmaceutical market, where it faces intense competition from industry rival Eli Lilly.

Doustdar's strategic overhaul aims to streamline operations and bolster the company's position in the critical US market.

(With inputs from agencies.)