Novo Nordisk, the manufacturer of popular obesity medications Ozempic and Wegovy, has announced plans to cut approximately 9,000 jobs globally, representing around 11% of its workforce. This decision comes as the company faces increasing competition, particularly from rival Eli Lilly, affecting its market position and sales forecasts. The restructuring aims to streamline operations and refocus on core products in the diabetes and obesity sectors, amid a challenging landscape for weight-loss medications. The cuts are part of a broader strategy to manage costs and reinvest for future growth, though they have also resulted in a lowered profit outlook for the company.