Novo Nordisk (NYSE:NVO) has initiated a hiring freeze as it looks to control costs under new boss Maziar Mike Doustdar.
All markets and departments, apart from business-critical roles, will be affected by the pause, the company said.
Doustdar, who took over this month, has also suggested the company may trim some of its 78,000-strong workforce as part of the restructuring promised as he took the reins.
Earlier this week, the maker of Wegovy and Ozempic unveiled price cuts for its diabetes and weight-loss drugs through several platforms in North America for those who do not have insurance coverage.
Patients can pay half the usual price in cash from the company's new direct-to-consumer online pharmacy or via drug savings platform GoodRx.
Novo shares earlier this month sank to their lowest level in three and a half years after a surprise profit warning in July, with the Danish company losing its crown as Europe's most valuable company.
It has also lost its lead in the US weight-loss market to Eli Lilly & Co, whose Mounjaro drug contains tirzepatide and is taken weekly.