Overview
- The plan removes roughly 6% of the workforce worldwide, with about 12,000 corporate roles and 4,000 production and supply-chain positions affected.
- Nestlé targets annual savings of around CHF 1 billion from the workforce reductions by 2027 as part of the higher CHF 3 billion cost-savings goal.
- Third-quarter sales rose 4.3%, contrasting with a 1.9% decline for the first nine months to CHF 65.9 billion.
- Navratil, appointed in September, said the company must change faster and called the job reductions difficult but necessary.
- The announcement follows the ouster of CEO Laurent Freixe and the early exit of chairman Paul Bulcke, with Pablo Isla now chairing; an analyst said the steps could help rebuild investor confidence.