As part of a broader restructuring exercise, Novo Nordisk, the pharmaceutical firm known for making Wegovy and Ozempic, has let go dozens of employees at its largest manufacturing site in the US. If media reports are to be believed, 150 employees at the junior and middle levels may be let go in India from the sales, marketing, as well as global business services or GBS functions.
The news should not come as a surprise because Novo Nordisk had announced a sweeping restructuring plan in the second week of September. The exercise was to see 9,000 jobs being eliminated worldwide by the end of 2026. The cuts, as reported then, represent about 11 per cent of the Danish drugmaker’s global workforce of 78,400 employees.
The company has not yet officially released the exact number of employees to be impacted at various sites / locations. Given that the company’s Bengaluru hub has a 4,500-strong workforce, uncertainty is looming large for the employees in India.
In the US, the latest cuts have reportedly affected those in manufacturing, including quality control staff and technicians in the production line. These layoffs are happening at a time when pharmaceutical companies in the US are being urged to increase production and create jobs for Americans.
The objective of the Danish company is to cut down costs and face the stiff competition from other drug makers.
It is pertinent to mention here that India has recently given its approval to Ozempic being used for type-2 diabetes. Last year was witness to Novo Nordisk being counted amongst the most important and successful listed companies in Europe due to the surge in demand for weight-loss drugs. Now, with growth slowing, the company is trying to cut costs and eliminate redundancy.
