Nestlé’s new chairman Philipp Navratil announced plans to cut 16,000 jobs worldwide.
Nestlé’s new chairman Philipp Navratil announced plans to cut 16,000 jobs worldwide in the coming years, about 12,000 of which are office staff. That should yield annual savings of 1 billion Swiss francs by the end of 2027. An additional 4,000 positions will be cut in production and supply chain roles.
The job cuts are described as a “difficult but necessary decision,” according to Navratil. Further cost-cutting measures aim to save a total of 3 billion Swiss francs by the end of 2027.
Leadership changes
Navratil had only a month ago briefly taken over as chief from Laurent Freixe. After a year, Freixe was dismissed due to a concealed relationship with an employee and allegations of favoritism. Shortly afterward, the company replaced the chairman Paul Bulcke with vice-chair Pablo Isla. The expectations for the duo are high. After years of weak growth and management mistakes, they are to steer the food group back on track.
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