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.
Manufacturing Manufacture Of Chemicals And Pharamceuticals Manufacture Of Basic Pharmaceutical Products And Pharmaceutical Preparations 21.20 - Manufacture of pharmaceutical preparations
500 jobs Number of planned job losses
Announcement Date
29 September 2016
Employment effect (start)
1 October 2016
Foreseen end date
30 November 2016
Description
The Danish-based pharmaceutical multinational company, Novo Nordisk, plans to dismiss 1,000 employees globally including 500 at their headquarters in Denmark. This was announced by the management on 29 September 2016. Novo Nordisk is expecting a challenging competitive situation in the US market in 2017, and this is one of the main reasons for why the company needs to lower its operating costs. The redundancies will affect different research units, employees at the headquarters in Bagsværd outside Copenhagen, and jobs in the global commercial organisation.
Sources
29 September 2016: Borsen.dk
Citation
Eurofound (2016), Novo Nordisk, Internal restructuring in Denmark, factsheet number 88779, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/88779.
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