Nestlé to Focus on Top Brands, Plans $2.8 Billion Cost Reduction

CEO Laurent Freixe outlines strategy to enhance growth by cutting costs and spinning off underperforming units.

Nestlé will concentrate on its most successful 'billionaire brands' to drive future growth.
The company aims to cut $2.8 billion in costs by 2027, focusing on procurement and structural expenses.
Nestlé plans to increase its advertising and marketing budget to pre-pandemic levels by 2025 to boost demand.
The water and premium drinks unit will be spun off as a separate entity starting January 1, 2025.
CEO Freixe predicts potential growth in pet care, snacks, and health and wellness sectors.