“Our Company Must Evolve”: Novo Nordisk to Slash 9,000 Jobs

What’s Happening?

Novo Nordisk, the maker of popular weight-loss drugs Ozempic and Wegovy, announced plans to eliminate “approximately 9,000 jobs” (around 11% of its global workforce) as part of a restructuring.

“Our markets are evolving, particularly in obesity, as it has become more competitive and consumer-driven,” CEO Mike Doustdar said in a news release.

“Our company must evolve as well. This means instilling an increased performance-based culture, deploying our resources ever more effectively, and prioritizing investment where it will have the most impact — behind our leading therapy areas.”

More than half of the job cuts will affect workers in Denmark. The company expects roughly $1.7 billion in savings by the end of 2026.

Impact on Canadian Staff

It remains unclear if any Canadian employees at Novo Nordisk are being let go.

According to LinkedIn, the company currently has more than 570 workers in the country.

• SEE ALSO: Layoffs in Canada: Which Employers are Slashing Staff?

Next Steps for Novo Nordisk Staff

If you’re fired or let go from Novo Nordisk, understanding your legal rights is crucial.

Non-unionized employees in Canada are entitled to severance pay. This includes individuals working full-time, part-time, or hourly in Ontario, Alberta, and British Columbia (BC).

The amount you’re owed is based on a variety of factors, including your role, tenure, age, and ability to find similar work.

📺 WATCH: Everything Non-Unionized Employees Need to Know About Severance Pay

Key Severance Facts:

• Compensation: Severance packages, which can be as much as 24 months’ pay, may include salary, bonuses, commissions, and other forms of compensation. Use our firm’s free Severance Pay Calculator to better understand your entitlements.
• Deadlines: You generally have up to 2 years from the date of your termination to review and negotiate severance offers.
• Action steps: Consult an employment lawyer at Samfiru Tumarkin LLP to ensure your severance package is fair and aligns with Canadian employment laws.

Lost Your Job? Contact Us

If you’ve lost your job at Novo Nordisk for any reason, the experienced employment law team at Samfiru Tumarkin LLP is here for you.

Our lawyers in Ontario, Alberta, and BC have helped tens of thousands of non-unionized individuals resolve their workplace issues.

📞 Call us today at 1-855-821-5900 or request a consultation online.

Disclaimer: The materials above are provided as general information about the rights of non-unionized employees in Canada. It is not specific to any one company and SHOULD NOT be read as suggesting any improper conduct on the part of any specific employer, or a relationship between Samfiru Tumarkin LLP and a specific employer.