Internal restructuring
Location of affected unit(s)
Denmark, USA
Manufacture Of Chemicals And Pharamceuticals
Manufacture Of Basic Pharmaceutical Products And Pharmaceutical Preparations
21.1 - Manufacture of basic pharmaceutical products

1,000 jobs
Number of planned job losses
Job loss
Announcement Date
29 September 2016
Employment effect (start)
Foreseen end date


Novo Nordisk, the Danish manufacturers of insulin, are to cut 1,000 jobs in a cost cutting measure as competition for their product increases. Half the cuts will be in Denmark, and will fallĀ on the research and development, sales, and administrative areas of operation. The cuts will be overseen by a new CEO, with the long serving chief executive standing down imminently. There has been increased competition and a slow growing market, particularly in the USA, which has catalysed this downsizing. The American market accounts for about half of Novo Nordisk's revenue, causing Novo Nordisk to cut its profit forecast by 8% in August. 2016's financial outlook will not change as a result of this downsizing, although long term savings are expected to be between $105-150 million (EUR 93-98 million).


  • 29 September 2016: The Wall Street Journal
  • 29 September 2016: Fortune


Eurofound (2016), Novo Nordisk, Internal restructuring in World, factsheet number 88787, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/88787.