Novo Nordisk announced a major restructuring involving approximately 9,000 job cuts, about 11.5% of its workforce, aiming to streamline management and sharpen focus on expanding diabetes and obesity treatments. The company faces mounting competition from Eli Lilly’s GLP-1 drugs, which have shown strong sales growth and novel oral delivery progress. Novo Nordisk’s leading products, Ozempic and Wegovy, still command significant revenue but the landscape is evolving rapidly. Analysts view the layoffs as a necessary adjustment amid these pressures and shifts in the lucrative diabetes-obesity market.