Wegovy maker Novo Nordisk to slash thousands of jobs | Business and Economy News

Novo Nordisk, the maker of blockbuster weight loss medication Wegovy, will cut 9,000 jobs amid growing competition in the industry led by US rival Eli Lilly.

The Danish pharmaceutical giant announced the cuts on Wednesday, marking the largest layoff in Denmark’s history. The restructuring is slated to save the company 8 billion Danish crowns ($1.25bn) annually.

This comes amid changes in the company’s C-suite. Last month, Novo named Maziar Mike…