Novo Nordisk Tightens Its Belt, Cutting 9,000 Jobs And Its Profit Outlook

Group 1 - Novo Nordisk announced a significant transformation plan, including the elimination of 9,000 jobs, which represents 11% of its workforce, aiming for annualized savings of 8 billion Danish kroner (approximately $1.26 billion) by the end of 2026 [1] - The company has revised its operating profit growth outlook for the year to a range of 4% to 10%, marking its third guidance cut this year, down from a previous forecast of 10% to 16% growth [2] - The restructuring reflects management's urgency to reassess costs amid pressures in its obesity drug franchise, with potential long-term benefits but diminished near-term profitability and growth expectations compared to European peers [3] Group 2 - Novo Nordisk's stock experienced a slight decline to 54.13 following the announcement of the job cuts and revised outlook [3]