The Danish pharmaceutical company Novo Nordisk is cutting 9,000 jobs, 4,000 of which will be outside Denmark.
The company, one of Bloomington’s major employers, did not comment on whether any jobs at its Bloomington campus would be cut.
“This is a global transformation, and each country, site or region will be impacted differently,” a Novo spokesperson said in an email to the Indiana Daily Student. “We will not be able to share specific numbers or additional facts about our site in Bloomington until plans are finalized and the appropriate consultations have been carried out, in line with local labor laws.”
The cuts come after the company has struggled against pharmaceutical competitors and cheaper, similar drugs. The company’s share price has dropped 60% in the last year. The company also recently hired a new chief executive in August to correct the company’s performance.
Novo Nordisk produces GLP-1 weight loss and diabetes drugs Ozempic and Wegovy. It cited the increasingly dynamic market of diabetes and obesity drugs as a contributor to the recent slowing of company growth.
Novo Nordisk acquired its Bloomington plant from Catalent in 2024 for $16.5 billion. At the time, an undated, since-deleted letter on Catalent’s site said the company employed 2,400 people. The acquisition occurred after hundreds of layoffs by Catalent in multiple years leading up to the deal and alleged mismanagement, including multiple safety breaches under Catalent.
