Rumor: Novo may layoff thousands

Novo Nordisk is considering laying off up to 3,000 staff from its global workforce and dropping its long-term financial targets, according to a Danish media report, citing anonymous sources.

Novo Nordisk's U.S. management and board will meet for a strategic meeting in late June and Novo will present the cost-cutting plan when it announces second-quarter results in August, the report said. The plan will include adjustment of the drugmaker’s growth forecast, which Novo put at 5 percent as recently as May, due to challenging market conditions in the United States

Read the Danish media report