World News for Students of English

30-09-2025 07:00

Kalundborg, often called “Novo Town,” faces uncertainty as Novo Nordisk, Denmark’s pharmaceutical giant, prepares major job cuts.

The company became Europe’s most valuable in 2023 thanks to its weight-loss drug Wegovy; however, competition, slowing sales, and falling share prices have led to restructuring. Novo will cut around 9,000 jobs globally, including 5,000 in Denmark, which has unsettled the local community. Kalundborg hosts a central production hub and employs 5,500 people.

The Danish economy remains stronger than much of the euro zone, but the slowdown in pharmaceutical growth has already lowered the central bank’s forecasts. Still, experts argue that Novo’s cutbacks return staffing to 2024 levels after rapid hiring, making the situation manageable. Locals worry about empty houses and job insecurity, while others see advantages: less pressure on housing and more opportunities for other companies to recruit. Despite short-term challenges, many expect Novo to expand again once new factories are complete.

Difficult words: restructure (to change how something is organized), unsettle (to make someone feel worried, or unsafe), cutback (a reduction).

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