Novo Nordisk Plans Athlone Job Cuts Amid Global Restructuring
Danish pharmaceutical giant Novo Nordisk has announced potential job cuts at its Athlone, Co Westmeath operation. Up to 75 roles could be affected, adding to the global restructuring that aims to cut 9,000 jobs, around 11.5% of its workforce. The company has been grappling with increased competition and weaker demand from the US market.
Novo Nordisk currently employs approximately 400 people in Athlone. The proposed cuts, which could reach 'several hundred', according to reports, are part of a broader cost-saving and efficiency improvement plan. The Danish firm has already notified the Irish government of these collective redundancies. The news comes amidst uncertainty in Ireland's pharmaceutical industry due to potential US tariffs on branded drugs. Novo Nordisk's shares have also taken a hit this year, dropping about 45% so far.
The potential job cuts at Novo Nordisk's Athlone site are a significant development, affecting a substantial number of employees. The company's global restructuring aims to improve efficiency and save costs, with the Irish unit not spared from these changes. The impact of potential US tariffs on the industry and the company's share performance add further uncertainty to the situation.
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