Novo Nordisk AS will lay off 11% of its global workforce and again lower its profit growth expectations

Novo Nordisk will lay off 9,000 employees globally and has lowered its full-year profit forecast for the third time. The company is striving to address the challenges posed by declining performance. The Danish pharmaceutical company aims to save DKK 8 billion by 2026 through these layoffs, which will affect 11% of its workforce, including 5,000 employees in Denmark. Novo Nordisk stated that operating profit for the full year, calculated at constant exchange rates, will grow by 4% to 10%. The company had predicted in February that profit growth could reach as high as 27%. Novo Nordisk mentioned that it will communicate with the affected employees in the coming months. The layoffs announced on Wednesday are part of the company's transformation plan aimed at streamlining the organizational structure, improving decision-making speed, and reallocating resources towards growth areas such as diabetes and obesity treatment