The Danish drugmaker employs about 400 people in Athlone. Employees at the site were told on Monday that up to 75 jobs could go, according to the Westmeath Independent.
The company confirmed that it had announced a global workforce reduction and said its priority during the process was to support staff.
“Out of respect for the employees involved, we will not share additional details about individual sites or areas,” a spokesperson said.
“This process takes time, and our highest priority is to support our employees.”
Novo Nordisk added that the restructuring was part of a broader transformation intended to “simplify our organisation, improve decision-making speed, and reallocate resources towards the company’s growth opportunities in diabetes and obesity.”
The maker of Ozempic and Wegovy has revealed plans to cut jobs at its Irish operation in Athlone (James Manning/PA)
Today’s News in 90 Seconds – September 30th
The company said the organisational changes would help it work more efficiently and “focus on what matters most, driving innovation and reaching many more patients.”
The Athlone facility, which manufactures drug ingredients for the global supply chain, has expanded in recent years as demand for Novo Nordisk’s medicines increased.
The firm produces two well-known drugs, the weight-loss and diabetes treatments Ozempic and Wegovy.
However, the company has come under pressure despite the popularity of its products. As recently as June, Novo Nordisk was Europe’s most valuable listed company.
Since then, it has faced weaker-than-expected demand in the US and growing competition from rival Lilly.
The company has also undergone significant leadership changes. In May, long-time chief executive Lars Fruergaard Jørgensen was replaced following a disappointing earnings report.
His successor, Maziar Mike Doustdar, introduced a hiring freeze in August and instructed employees to return to the office full-time.
Reports from Bloomberg indicated that some staff were asked to accept demotions, with pay cuts and reduced responsibilities, as part of the restructuring drive.
Shares in Novo Nordisk have fallen by about 45pc so far this year, leaving the group with a market value of around €209bn.
The planned cuts in Athlone come at a sensitive time for Ireland’s pharmaceutical industry. As concerns grew last week when US president Donald Trump said he would impose a 100pc tariff on branded drug imports, before White House officials clarified that trade with the EU and other countries with agreements would not be affected.