Outside of atmosphere, a rocket's final speed and orbit depend on three factors: the mass of the payload, the mass of the fuel, and the inherent engine design efficiency. Notably, it does not depend on thrust. Burning one engine for 9 seconds results in a speed boost equal to burning 9 engines for 1 second.
Even if an engine fails and another one is set to reduced thrust, the fuel is still there, and can be burned by remaining engines.
Of course, this is a huge simplification, and loss of thrust while still in atmosphere or near the ground might be a problem.
Side engine loss is compensated by its opposite side engine reducing thrust (along with those in-between - in ratio).
This leads to a longer burn and slightly greater fuel waste - but it is stable and was designed just for this very occasion.