The Danish Company Novo Nordisk is cutting nine thousand Jobs as it seeks to reduce its spending. The Maker of the Popular Weight-Loss Drugs Wegovy and Ozempic Faces Increasing Competition and Must Therefore Tighten Its Belt. The Company Announced this on Wednesday.
In Total, nearly 12 percent of the 78,400 jobs at Novo Nordisk Will Disappear. About five thousand jobs in its home country or denmark will be cut.
Ozempic and Wegovy Have Become Very Popular in A Short Time With People Who Want To Lose Weight. The Sales Growth Even Made Ozempic – which is Actually A Diabetes Medicine – Very Difficult to Obtain. IT Temporarily Made Novo Nordisk the Company with the Highest Stock Market Value in Europe.
But Recently, The Danes Have Suffered A Lot From Competitors, Especial in the United States. For Example, The American Pharmaceutical Manufacturer Eli Lilly Has also Launched a Similar Weight-Loss Drug.
With the Austerity Measures, Novo Nordisk Hopes to Save More Than 1 Billion Euros Annually. However, it will first have to collect a one-time 1.2 Billion Euros in Costs and Losses Due to the Reorganization.
The Measure Should not only Save Money, But also Ensure That Decisions Are Made Faster and That The Company Structure Is Simpler. In Addition, The Danes Want to Re-Ealuate Their Investments.