Novo CEO Maziar Mike Doustdar disclosed an additional 4,000 staff departures, which a spokesperson told BioSpace are linked to attrition and other measures.
Novo’s workforce has shrunk by about 13,000 individuals over the past year as the Danish weight loss juggernaut works to unify and drive more funds into R&D, CEO Mike Maziar Doustdar said on Monday.
The company’s total workforce now stands at 67,000, a spokesperson confirmed to BioSpace Tuesday morning.
“These are not easy decisions for us, but they were necessary,” Doustdar said during the company’s Capital Markets Day on Sept. 21. “They were incredibly important as we’re using the funds coming through this exercise to fuel for the future, fuel the R&D organization, as well as, of course, make ourselves more competitive.”
The number of employees that have departed includes a previously disclosed 9,000 people who left as a result of layoffs following a fall 2025 restructuring. New in Doustdar’s remarks are the 4,000 additional departures. The spokesperson confirmed the number but said these were not necessarily layoffs. They included positions that were left unfilled as a result of normal attrition, retirements, voluntary departures, decisions not to backfill roles and other changes in hiring decisions.
“The additional 4,000 reflects the continued evolution of our workforce following the transformation announced in 2025,” the spokesperson said.
During Novo’s Capital Markets Day, Doustdar sought to bring investors on side as the company struggles to reestablish its lead in the weight loss market that has been eroded by rival Eli Lilly. While Doustdar spoke of a united front at the company, investors were less convinced. Novo’s shares declined sharply on Monday, finishing the day down nearly 8% to $39.80.
Doustdar took the helm in July 2025 and has since been remaking the company, which rose to prominence thanks to the GLP-1 semaglutide ushering in a new era of obesity treatment. Novo rapidly staffed up as the drug pushed from diabetes into weight management, reaching a peak of more than 78,000 employees in 2025, according to data from S&P Capital IQ.
But with eroding sales and disappointments across the pipeline, the company has had to reassess. Doustdar rolled out a massive restructuring effort in September 2025, which claimed the jobs of 9,000 people worldwide. The company declined on Tuesday to provide further details of where these cuts occurred.
