Nestle Plans to Slash 16,000 Jobs Through 2027
(MENAFN) Swiss food giant Nestle revealed on Thursday its plan to cut 16,000 jobs within the next two years as part of an aggressive cost-reduction strategy.
In an official statement, the company detailed that 12,000 white-collar roles will be eliminated alongside 4,000 other positions during this period to boost operational efficiency.
These layoffs are projected to generate annual savings of 1 billion Swiss francs ($1.25 billion) for Nestle through to the end of 2027.
This move accelerates Nestle’s ongoing cost-cutting efforts, which had already seen $3.17 billion in savings initiated under former CEO Laurent Freixe. The target has now been raised to $3.76 billion by 2027.
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