Nestlé, the world’s largest food company, plans to cut 16,000 jobs over the next two years in a bid to strengthen its competitiveness and reduce costs.

According to a press release from Nestlé, cited by several media outlets, the company aims to save 3 billion Swiss francs (over 24 billion Danish kroner) by the end of 2027. Approximately 12,000 white-collar positions and 4,000 jobs in production and supply chain will be eliminated. Nestlé says the move is part of its strategy to increase automation and operational efficiency.

CEO Philipp Navratil stated that the layoffs are necessary to secure the company’s future leadership position and create value for shareholders. Nestlé currently employs around 277,000 people worldwide.

Nestlé is known for a wide range of globally recognized food and beverage brands, including infant formula and baby milk products.

Read more HERE (Danish)

Photo: Snapsaga, Unsplash

By LWM