Novo Nordisk, the maker of popular weight-loss drugs Ozempic and Wegovy , announced it is laying off about 9,000 workers in an effort to “streamline operations.”

The company made the announcement on Wednesday, saying it planned to cut 11 per cent of its global workforce with the expectation it will see C$1.7 billion in savings by the end of 2026. The company has 78,400 employees.

Employees affected will be contacted by the company over the next few months, according to the company.

Mike Doustdar, president and CEO of Novo Nordisk, said in a news release that the shift was needed because of how the markets for weight-loss drugs are “evolving.”

“Our markets are evolving, particularly in obesity, as it has become more competitive and consumer-driven,” Doustdar said. “Our company must

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