Novo Nordisk revealed a restructuring plan that includes cutting approximately 9,000 jobs, around 11.5% of its global workforce, alongside management layer reductions aimed at strengthening commercial execution and focusing investment on diabetes and obesity growth areas. The company leads in glucagon-like peptide-1 (GLP-1) therapies such as semaglutide (Wegovy and Ozempic), but faces stiff competition from Eli Lilly’s tirzepatide products. Despite recent top-line revenues, Novo Nordisk has lost nearly two-thirds of its market capitalization since mid-2024. Analysts view layoffs as painful but necessary for long-term competitiveness amid changing market dynamics.