Nestle plans to slash sixteen thousand jobs to cut coasts
(MENAFN) Swiss food giant Nestlé revealed on Thursday its intention to reduce its workforce by 16,000 positions over the next two years in a bid to lower costs.
The company stated that 12,000 of these cuts will affect white-collar employees, with an additional 4,000 roles also being eliminated during the period.
This workforce reduction is projected to save the company around 1 billion Swiss francs ($1.25 billion) annually through the end of 2027.
Nestlé had previously initiated a cost-reduction plan amounting to $3.17 billion under its former CEO, Laurent Freixe. Reports indicate that this target has now been accelerated to $3.76 billion by the end of 2027.
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