Nestlé will cut 16,000 jobs worldwide over the next two years as part of a major cost-cutting and restructuring plan aimed at accelerating growth. The layoffs — about 6% of its global workforce — include 12,000 white-collar and 4,000 manufacturing roles.
“The world is changing and Nestlé needs to change faster,” said new CEO Philipp Navratil, who took over after Laurent Freixe was dismissed last month. The company plans to save 3 billion Swiss francs (£2.8 billion) by 2027, up from its previous target of 2.5 billion.
Nestlé, which owns brands such as KitKat, Nescafé, and Purina, employs 4,200 people in the UK but has not revealed where cuts will fall. The company said it will boost automation and efficiency to streamline operations.
The announcement came as Nestlé reported a 1.9% sales drop to 65.9 billion francs for the first nine months of the year, largely due to currency effects, though organic growth rose 3.3%.
Navratil said he intends to “move faster” to restore growth, while analysts noted his willingness to take bold action to reverse the company’s recent slowdown.
