Food giant to axe thousands of jobs in radical shake-up

• Nestle has announced plans to cut approximately 16,000 jobs globally over the next two years, driven by automation and a need to reduce costs.
• The job reductions will affect around 12,000 white-collar professionals across various business functions and geographies, with an additional 4,000 cuts in manufacturing and supply chain.
• This restructuring is anticipated to save the consumer goods giant around one billion Swiss francs (£940 million) annually by the end of 2027.
• Nestle's total cost-savings target, which incorporates the workforce cuts, has risen to three billion Swiss francs (£2.8 billion).
• Philipp Navratil, Nestle’s chief executive, stated the company needs to 'change faster' to secure its future as a leader in the industry.

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Nestle to cut 16,000 jobs around world in huge cost-cutting drive