Nestle Layoffs: FMCG giant to layoff 16,000 jobs in…, new CEO Philipp Navratil says ‘Hard but neccessary…’,

Nestle to layoff 16,000 employees

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Nestlé Layoffs News: Nestlé will cut 16,000 jobs globally, the company said, over the next two years. The decision came a few weeks after the appointment of new Chief Executive Officer Philipp Navratil. Soon after taking charge, Navratil declared to push the company forward in a major transformation. The employee layoff is equal to 6 per cent of Nestlé’s workforce. Announcing the new overhaul, Navratil said, “The world is changing, and Nestle needs to change faster.” “This will include making hard but necessary decisions to reduce headcount,” He added in his statement on Thursday.

Navratil came to the helm of the food-making giant early in September, and his appointment is a sign that the company has been planning a total transformation. Regarding who will be laid off, out of these 16,000 Nestlé layoffs, which will be slashed, 12,000 jobs are white-collar positions. With the reduction of the headcounts, Nestle hopes to save a big amount, that is, one billion Swiss francs, to double the savings planned earlier. This is not the first time that the Swiss food and beverage giant is doing a job cut. At least 4,000 jobs are currently being cut in production and supply chain roles.

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General When will Nestlé layoffs happen?

Nestlé in its statement, said that the layoffs will be completed in a period of two years. As workforce reduction will go on worldwide, certain employees from those countries where Nestle has its operations will most likely be affected.

The company has made an estimate to raise its total savings target to three billion Swiss francs by the end of 2027, more than the earlier goal of 2.5 billion. Navatril’s statement came as the company released nine-month figures showing sales down by 1.9% to 65.9 billion Swiss francs ($83 billion).

General Who is Philipp Navratil?

Philipp Navratil began his career with Nestlé in 2001 and has since been associated with the company for two decades of experience in the FMCG giant.  

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