Nestlé to cut 16,000 jobs as CEO Philipp Navratil accelerates transformation plan

Core Viewpoint - Nestlé SA is planning to cut approximately 16,000 jobs globally as part of a two-year restructuring initiative led by its new CEO, Philipp Navratil [1] Company Summary - The job cuts are part of a broader restructuring effort aimed at improving operational efficiency and adapting to changing market conditions [1] - The restructuring is expected to take place over a two-year period, indicating a significant transformation within the company [1] Industry Context - The move reflects ongoing trends in the food and beverage industry, where companies are increasingly focusing on cost management and operational streamlining to remain competitive [1]