'Hard but necessary decision': Nestle to cut 16,000 jobs globally; white

Swiss food giant Nestlé on Thursday announced that it is planning to eliminate 16,000 jobs worldwide over the next two years, as its new CEO, Philipp Navratil, vowed to accelerate transformation amid slowing growth. “The world is changing, and Nestlé needs to change faster,” Navratil said in a statement. “This includes making hard but necessary decisions to reduce headcount.” Of the 16,000 cuts, 12,000 will be white-collar positions, expected to save the company one billion Swiss francs, double the amount previously planned. This follows 4,000 ongoing job reductions in production and the supply chain. Navratil also raised Nestlé’s savings target to three billion Swiss francs by 2027, up from a prior goal of 2.5 billion, signalling an aggressive push to streamline operations and res