Novo Nordisk announced a major restructuring plan involving layoffs of approximately 9,000 employees, about 11.5% of its global workforce, to sharpen commercial execution and focus resources on its diabetes and obesity growth areas. The company’s leading glucagon-like peptide-1 (GLP-1) franchise—semaglutide marketed as Ozempic and Wegovy—has generated massive revenues, but increasing competition from Eli Lilly’s GLP-1 drugs such as tirzepatide is intensifying market pressures. Despite strong sales, Novo Nordisk’s market capitalization has plunged, reflecting challenges including competitive threats and regulatory scrutiny. The company aims to streamline management layers and sustain growth in the fast-evolving obesity and diabetes therapeutic sectors.