Overview

• The reduction equals about 5.8% of Nestlé’s roughly 277,000 employees.
• CEO Philipp Navratil said 12,000 administrative roles will go, with a further 4,000 reductions in production and supply-chain functions over two years.
• Management lifted its cost-savings goal to 3 billion Swiss francs by the end of 2027, up from 2.5 billion.
• The administrative reductions are expected to generate 1 billion francs in annual run-rate savings by 2027.
• Shares rose about 8% in early trading after the announcement, as the company reported a 1.9% drop in nine-month sales to 65.9 billion francs.