Jenny Craig is reportedly closing some of her weight loss centers and warning employees of mass layoffs amid industry upheaval over popular new prescription drugs like Ozempic. Video above: Diabetes drugs can- can they be used to lose weight? layoffs as it begins to “wind down its physical operations” and search for a buyer, according to NBC News. Jenny Craig owns nearly 500 weight loss centers in the United States and Canada. The company, founded in 1983, did not tell CNN how many weight loss centers will close or how many employees will be affected. “Like many other businesses, we are currently transitioning from a brick-and-mortar retail business to a user-friendly e-commerce focused model. We will have more details to share in the coming weeks as our plans materialize,” a spokesperson for Jenny Craig said in a statement to CNN. Jenny Craig’s program offers nutritionally balanced menus , which include appetizers, desserts and snacks, designed to help people lose weight.Bloomberg reported this week that the company is about $250 million in debt and plans to file for bankruptcy if efforts to This is the latest sign of major changes in the weight loss industry, brought on by popular new prescription diabetes drugs such as Wegovy, Ozempic and Rybelsus. work by stimulating the release of insulin, which helps lower blood sugar levels.They also slow the passage of food through the gut.The FDA approved Ozempic for diabetes management in 2017 and Wegovy for weight loss in 2021 Traditional weight loss companies are struggling to adapt. WeightWatchers is also getting into the prescription weight loss drug business. The company, now known as WW International, recently purchased Sequence, a telehealth subscription service that connects patients with doctors who can prescribe weight-loss and diabetes medications. The $106 million acquisition of The Sequence will give WW a foothold in the growing market for prescription drugs to manage weight loss. Ozempic has gained popularity in part due to celebrities using it for weight loss. shortages that make it difficult for people with diabetes to access medication.
Jenny Craig is reportedly closing some of her weight loss centers and warning employees of mass layoffs amid industry upheaval caused by popular new prescription drugs like Ozempic.
Video above: Can diabetes medications be used for weight loss?
Jenny Craig has alerted employees to potential layoffs as she begins to ‘shut down her physical operations’ and look for a buyer, according to BNC News. Jenny Craig owns nearly 500 weight loss centers in the United States and Canada.
The company, founded in 1983, did not tell CNN how many weight loss centers will close or how many employees will be affected.
“Like many other businesses, we are currently transitioning from a brick-and-mortar retail business to a user-friendly, e-commerce-focused model. We will have more details to share in the coming weeks as our plans develop. will come to fruition,” a spokesperson for Jenny Craig said in a statement to CNN.
Jenny Craig’s program offers nutritionally balanced menus, which include appetizers, desserts and snacks, designed to help people lose weight. Bloomberg reported this week that the company was about $250 million in debt and was considering filing for bankruptcy if efforts to find a buyer for its assets failed.
It’s the latest sign of major changes in the weight loss industry, driven by popular new prescription diabetes drugs like Wegovy, Ozempic and Rybelsus.
These relatively new drugs work by stimulating the release of insulin, which helps lower blood sugar. They also slow down the passage of food through the intestine.
The FDA approved Ozempic for diabetes management in 2017 and Wegovy for weight loss in 2021.
Traditional weight loss companies are scrambling to adapt. WeightWatchers is also getting into the business of prescription weight-loss drugs.
The company, now known as WW International, Recently Purchased Sequencea telehealth subscription service that connects patients with doctors who can prescribe medications for weight loss and diabetes.
The acquisition of Sequence for $106 million will give WW a foothold in the growing market for prescription drugs to manage weight loss.
Ozempic has gained popularity in part due to celebrities using it for weight loss.
But there are many concerns about using diabetes drugs for weight loss, including high costs and shortages that make it harder for people with diabetes to get the drugs.