Novozymes makes organizational changes, including layoffs

In Denmark, Novozymes is making organizational changes to drive stronger growth and deliver on its updated corporate strategy, “Better business with biology,” according to their press release. Changes will free up resources which will be made available for reinvestments where they have higher impact, including layoffs for about 280 – 330 employees globally, of which 123 are in Denmark.

Layoffs will happen across divisions, functions and regions and in accordance with local processes and requirements. In addition, a number of employees will be transferred to new roles inside the company.

According to their press release, the strategy will drive higher sales and earnings growth over the three-year period 2020-2022, and beyond. The outcome of the strategy has shown that DKK 200-300 million can be freed up from existing portfolios, from simplification and from efficiency improvements. This allows for significant reinvestments in the company and it supports Novozymes’ long-term growth potential.

In early August, The Digest reported that their entire first half of 2019 was disappointing in performance, mostly due to their agriculture and feed, bioenergy and food and beverages segments hurt by the volatility in U.S. agriculture and certain emerging markets.