US EditionNovo Offers Some Employees Choice Between Demotion and Layoff
4 Articles
4 Articles
Novo Offers Some Employees Choice Between Demotion and Layoff
Novo Nordisk A/S is forcing some workers to accept demotions in order to keep their jobs as the drugmaker continues to lay off thousands of people in an attempt to regain its footing in the competitive weight-loss market.
Some workers received 24 hours to accept the changes or receive a severance pay, according to local unions
CEO Mike Doustdar announced that the mass layoff of 5,000 employees would be done in a considerate and orderly manner, but several employees are given only 24 hours to accept the choice between demotion and pay cut - or a dismissal.
Novo to selected employees: Accept demotion – or be firedWhile some employees at Novo Nordisk receive a dismissal, others are offered a demotion. The Danish Engineers' Association IDA, which has approx.
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