Nestle Announces Major Workforce Reduction as New CEO Accelerates Turnaround Strategy
Food giant Nestle will eliminate approximately 16,000 positions globally as part of an accelerated turnaround strategy under new leadership. The cuts come despite the company reporting better-than-expected organic growth of 4.3% in the third quarter, with the restructuring aiming to improve operational efficiency.
Major Workforce Reduction Announced
Nestle will cut approximately 16,000 jobs worldwide, representing about 6% of its global workforce, as new CEO Philipp Navratil accelerates the company’s turnaround efforts, according to reports released Thursday. The consumer goods giant stated that 12,000 white-collar positions will be eliminated immediately, with an additional 4,000 roles to be reduced over the next two years.