Novo Nordisk cuts 9,000 jobs to focus on new weight-loss drug

According to a post on LinkedIn by Novo Nordisk CEO, Mike Doustdar, on Friday, it was revealed that the employee notifications for the company's plan to lay off 9,000 people have been largely completed. He added that the layoffs are global in scope, but progress in employee notifications varies due to different laws in different locations. These layoffs are part of a restructuring plan initiated by Doustdar last month. Currently, Novo Nordisk is facing fierce competition in the largest pharmaceutical market in the world - the United States, with Eli Lilly as its competitor. The $150 billion weight loss drug market is currently growing rapidly, and Novo Nordisk is also seeking to achieve higher breakthroughs.