Novo Nordisk, the Danish pharmaceutical giant behind the blockbuster obesity drug Wegovy, has announced a sweeping company-wide transformation that will result in the layoff of 9,000 employees worldwide,

Novo Nordisk, under new leadership and needing a boost, is cutting 11% of its workforce as it tries to regain its footing in the obesity market.

Denmark's economy remains robust despite job cuts at Novo Nordisk, the finance minister told Reuters on Wednesday, dismissing concerns that the pharmaceutical company's financial troubles could further impact the country’s economic outlook.