10:50 AM EDT, 09/30/2025 (MT Newswires) -- Novo Nordisk ( NVO ) is offering some employees an option between a demotion and termination as it continues to lay off thousands of workers, Bloomberg News reported Tuesday, citing local unions.

Some employees were given 24 hours to accept changes to the terms of employment or receive a severance package, local unions said, according to the report.

"Our phones are absolutely burning hot, and we've had extended opening hours and extra staff called in," said Susie Staerk Ekstrand, chief executive officer of the Pharmadanmark union, the report noted.

The IDA union estimates it has received over 60 inquiries so far, the report added.

Unions Pharmadanmark and IDA, and Novo Nordisk ( NVO ) did not immediately respond to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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