Denmark's Resilient Economy Amid Novo Nordisk Job Cuts

Denmark's robust economy remains unaffected by Novo Nordisk's job cuts, according to the finance minister. Despite a reduced economic growth forecast, the country's financial health is buoyed by strong employment numbers, low unemployment, and a public finance surplus, minimizing dependence on any single company.

Denmark's economic resilience persists despite significant job cuts at pharmaceutical giant Novo Nordisk. Finance Minister Nicolai Wammen reassured that the country's economic stability remains intact, dismissing fears of potential impact from Novo Nordisk's challenges.

The company, renowned for its weight-loss drug Wegovy, announced global layoffs affecting 9,000 employees, with 5,000 jobs cut in Denmark. Though Denmark recently slashed its 2025 economic growth forecast to 1.4% from 3%, Wammen emphasized that this does not alter the government's economic projections.

The Nordic nation boasts the highest employment in its history, with low unemployment and minimal debt, achieving a public finance surplus for nine consecutive years. While Denmark's economy thrives on exports from major companies like Maersk and Lego, it remains strong, even as Novo Nordisk confronts its challenges, similar to Nokia's past struggles.

(With inputs from agencies.)