Athlone-based firm announces 9,000 job cuts worldwide

Novo Nordisk, a multinational pharmaceutical company which has one of its premises in Monksland, Athlone, announced plans last week to reduce its global workforce by 9,000.

The firm, which has its headquarters in Denmark, said around 5,000 of the planned job cuts are expected to occur in that country.

The statement issued by Novo Nordisk on Wednesday of last week said the reduction in its overall workforce was designed to help the company "streamline operations and reinvest for growth".

It said the job losses would occur "across the company, including staff areas and headquarters functions," and that they were expected to result in total annualised savings of around 8 billion Danish Krone by the end of 2026.

The Westmeath Independent contacted the company to ask what impact, if any, the job cuts would have on the workforce in Monksland but at the time of going to press we had not yet received a response.

The statement from the company on Wednesday last said the implementation of the job cuts would "begin immediately" and that the company "expects to communicate with affected employees over the next few months, pending negotiations as per local legal labour market requirements".

Mike Doustdar, Novo Nordisk president and CEO, said: "As the global leader in obesity and diabetes, Novo Nordisk delivers life-changing products for patients worldwide. But our markets are evolving, particularly in obesity, as it has become more competitive and consumer-driven. Our company must evolve as well.

"This means instilling an increased performance-based culture, deploying our resources ever more effectively, and prioritising investment where it will have the most impact – behind our leading therapy areas."

"It is always difficult to see talented and valued colleagues go, but we are convinced that this is the right thing to do for the long-term success of Novo Nordisk. We need a shift in our mindset and approach so we can be faster and more agile," he added.Last month, the company received planning permission to develop a temporary car park of 363 spaces for construction workers engaged in "ongoing refurbishment works" at the Novo Nordisk campus.

The temporary contractor's car park, approximately 0.5km to the west of the existing Novo Nordisk facility, is to be used as a park and ride facility to accommodate up to 500 construction workers.

Novo Nordisk's Monksland facility previously traded as Alkermes and, before that, Elan.