Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
The Danish pharma group Novo Nordisk has announced to cut 400 positions in its research and development (R&D) services in Denmark and China. Novo Nordisk, which is the world’s biggest insulin maker, has decided to refocuses its R&D efforts on 'transformational biological and technological innovation'. Therefore, administrative staff, laboratory technicians and scientists working in the R&D services will be laid off in Denmark and China. But Novo Nordisk will also hire specialists in areas such as computational biology, stem cells and new disease areas (but the number of job creations is not known). The company has decided to reorganise the structure of its R&D organisation, creating internally four research units based in Denmark, the US and the UK. These units will operate as satellites of the company’s central R&D function. Novo Nordisk employs more than 43,000 people worldwide.
Eurofound (2018), Novo Nordisk, Internal restructuring in World, factsheet number 95497, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/95497.