Novo Nordisk, the world’s top maker of diabetes drugs, said on Tuesday it will lay off 400 staff in Denmark and China in order to divert funding toward investment in biological and technological innovation.  The company has seen a significant decrease in growth due to the surplus of manual labor workers and will be cutting the excess workers in order to combat the decrease.  The company will then be establishing “biotech-like units” in the United States, United Kingdom, and Denmark to focus on innovation in stem cell research and other areas.

Source: Reuters

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