Novo Nordisk Tightens Its Belt, Cutting 9,000 Jobs And Its Profit Outlook
BREAKING: Futures Rise As Oracle Skyrockets, PPI Inflation TameNovo Nordisk (NVO) announced a "sweeping transformation" Wednesday as the drugmaker contends with knockoffs chipping away at its blockbuster drugs Ozempic and Wegovy.The Danish company will eliminate 9,000 jobs, or 11% of its workforce, in an effort to deliver 8 billion Danish kroner in annualized savings by the end of 2026. That translates to roughly $1.26 billion, based on today's exchange rates.As a result, Novo also trimmed its operating pro ...