Nestlé announces 16,000 job cuts to accelerate cost reduction

Nestlé announced that it plans to cut 16,000 jobs, equivalent to about 6% of the global workforce, over the next two years. The move accompanies the increase in the cost savings target to 3 billion Swiss francs by 2027 - up from 2.5 billion previously - in the first disclosure of results since the arrival of new CEO, Philipp Navratil. The world's largest packaged food group said on Thursday (16) that it plans to cut about 12,000 administrative positions across various functions and regions, in addition to an additional reduction of 4,000 positions in manufacturing and the supply chain. The company employs around 277,000 people globally, according to its website. The staff reductions have already begun and will accelerate over the next two years, Navratil said in a teleconference with reporters. "The world is changing, and Nestlé needs to change faster," said Navratil. The new head of Nestlé, who took office last month after the dismissal of his predecessor, Laurent Freixe, ...