刚换帅、裁员又全球召回，雀巢中国能否破局？

Core Viewpoint - Nestlé faces a significant challenge in the Chinese market due to a global food safety alert that has led to the recall of infant formula products, coinciding with strategic adjustments within the company [2][4]. Group 1: Product Recall and Safety Concerns - Nestlé announced a preventive recall of infant formula in 31 countries, including China, due to potential contamination from a supplier's raw material [2][4]. - The recall involves 30 batches of products from four brands, including "Liduo Jing" and "Platinum Neng En," while major products like "Super Q Neng En" and "Qifu" remain unaffected [4]. - The recall is a precautionary measure, with no reported consumer illnesses, but it raises concerns about consumer trust in Nestlé's products [4][15]. Group 2: Management Changes and Strategic Adjustments - A new management team for Nestlé's nutrition business in China has been established, led by CEO Xie Guoyao, who faces immediate challenges due to the recall [5][8]. - The merger of Nestlé's infant nutrition business with Wyeth aims to enhance operational efficiency, but the recall tests the new team's ability to manage crises and maintain consumer trust [5][8]. - The new CEO, Kais Marzouki, has been tasked with reversing a trend of declining sales in the Chinese market, which has seen a drop from 6.913 billion Swiss francs in 2019 to 5.558 billion Swiss francs in 2024 [10]. Group 3: Market Performance and Competitive Landscape - Nestlé's infant nutrition business has struggled, with market share dropping from approximately 13% in 2019 to 10.7% in 2022, facing competition from local brands like Feihe and Junlebao [5][7]. - The company has experienced a -6.1% organic growth rate in the Greater China region, with the infant nutrition segment being a significant contributor to this decline [7][10]. - Local brands are gaining market share by leveraging localized formulas and lower prices, further challenging Nestlé's position in the market [13]. Group 4: Global Restructuring and Cost-Cutting Measures - Nestlé plans to lay off 16,000 employees globally, aiming for annual cost savings of 1 billion Swiss francs by 2027, with a focus on replacing human labor with technology [12][14]. - The restructuring includes optimizing overlapping white-collar positions, which may provide financial flexibility for investment in technology and food safety in China [12][14]. - Despite these efforts, there are concerns about the impact of layoffs on research and development capabilities, as well as the potential for increased scrutiny from consumers regarding product safety [13][15]. Group 5: Future Outlook and Challenges - The year 2026 is seen as a critical period for Nestlé in China, as the effectiveness of the merged nutrition business and the new management strategies will be tested [15]. - The company must address the immediate fallout from the recall while also adapting to changing consumer demands and accelerating product innovation to regain market share [15].