Novo Nordisk issues return to office policy after layoffs

Group 1 - Novo Nordisk will require its staff to work in the office full-time, implementing a "new global standard" for office-based employees starting January 1, following a workforce reduction of about 11% [1][4] - The company aims to foster a stronger sense of belonging and enhance collaboration while recognizing the importance of flexibility, allowing individual agreements between managers and employees [2] - The company anticipates annualized savings of approximately $1.25 billion by the end of 2026 from cutting around 9,000 positions, with funds earmarked for reinvestment in diabetes and obesity therapy areas [4][5] Group 2 - Novo Nordisk is facing increased competition in the obesity market, particularly from Eli Lilly's Mounjaro and cheaper alternatives, prompting the need for a performance-based culture [4][5] - The savings from the workforce reduction will be redirected to growth opportunities in diabetes and obesity, including commercial execution initiatives and R&D programs [5] - The company's stock saw a slight increase of about 0.05% following the announcement of the new office policy [6]