Novo Nordisk, the Danish pharmaceutical giant behind Ozempic and Wegovy, announced plans to cut 9,000 jobs 11% of its global workforce in a major cost-saving move. About 5,000 of the layoffs will hit Denmark. The company aims to save 8 billion kroner (US$1.3 billion) amid rising competition in the booming anti-obesity drug market. This marks the third time in 2025 that Novo Nordisk has lowered its earnings forecast, now expecting operating profit growth of just 4–10%, down from 10–16%. Despite the cuts, investors responded positively, pushing the stock up over 3% in midday Copenhagen trading.
