WeightWatchers to Cut Jobs, Spending as Business Declines

WW International Inc., better known as WeightWatchers, is laying off employees and cutting costs as it struggles to stay afloat in a new era of obesity treatment.

The New York company will save about $100 million a year by streamlining its business and cutting an undisclosed number of jobs, WeightWatchers said Thursday.

The company’s shares dropped by 5% in premarket trading. Shares have lost about 90% of their value this year as the escalating popularity of weight-loss treatments from Eli Lilly & Co. and Novo Nordisk A/S have decimated demand for its trademark diet plans.

WeightWatchers missed analysts’ subscriber ...