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Nestle Plans to Sack 16,000 Jobs, Hikes Cost-Saving Target
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Nestle plans to sack roughly 6% of its workforce, involving about 16,000 employees over the next two years, as the new CEO Philipp Navratil expedites the company's transformation. Nestle has around 277,000 employees globally. Nestle has increased its cost-saving target by the end of 2027 from the previous CHF2.5 billion to CHF3 billion (approximately USD3.7 billion). Nestle also announced its third-quarter sales beat, with the real internal growth rate, a measure of sales volume, rising by 1.5%, topping analysts' expectations of 0.3%. AASTOCKS Financial News Website: www.aastocks.com |
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