Novo Nordisk announced plans to cut 9,000 jobs, approximately 11% of its workforce, as part of a major restructuring under new CEO Mike Doustdar aimed at improving agility amid increased competition in the obesity drug market. The company’s share price and profits have recently declined due to challenges from rivals and copycat products. The restructuring seeks to streamline operations and focus on core products, signaling a strategic pivot in response to evolving market dynamics.