Swiss food giant Nestlé on Thursday announced that it is planning to eliminate 16,000 jobs worldwide over the next two years, as its new CEO, Philipp Navratil, vowed to accelerate transformation amid slowing growth.“The world is changing, and Nestlé needs to change faster,” Navratil said in a statement. “This includes making hard but necessary decisions to reduce headcount.”

Layoffs and cost-saving measures

Of the 16,000 cuts, 12,000 will be white-collar positions, expected to save the company one billion Swiss francs, double the amount previously planned. This follows 4,000 ongoing job reductions in production and the supply chain.Navratil also raised Nestlé’s savings target to three billion Swiss francs by 2027, up from a prior goal of 2.5 billion, signalling an aggressive push to streamline operations and restore profitability.

Sales performance and challenges

The announcement comes alongside Nestlé’s nine-month results, showing sales down 1.9% to 65.9 billion Swiss francs ($83 billion). Organic sales growth, however, was 3.3%, largely driven by price increases of 2.8%.The Swiss multinational, which owns over 2,000 brands, including Nespresso, Perrier, Kit Kat, and Purina, has faced turbulence in recent months. September saw the dismissal of the previous CEO over an office relationship, followed by the early departure of the company chairman.The company has also grappled with a bottled water scandal that began in France in 2024, adding to challenges in stabilising the business.