Nestle plans to lay off 16K staff

New Delhi: Nestle, the Swiss food and beverage giant known for brands like Nespresso, Kit Kat, Perrier, and Purina, announced on Thursday that it will cut 16,000 jobs worldwide over the next two years. The move comes as the company aims to speed up its transformation under new CEO Philipp Navratil, who took charge in early September. “The world is changing, and Nestle needs to change faster,” Navratil said in a statement. He added that the job cuts were part of “hard, but necessary decisions to reduce headcount” and streamline operations amid changing market conditions.