Novo Nordisk to cut 9,000 jobs: Ozempic maker to reduce workforce by 11%; refocus on diabetes and obesity treatments

Novo Nordisk is set to reduce its workforce by 11%, eliminating 9,000 jobs globally, including 5,000 in Denmark, to save $1.3 billion amid rising competition for its obesity treatments. This restructuring follows a lowered earnings forecast and aims to streamline operations for growth in diabetes and obesity markets. Shares rose despite the announcement.