Nestle to Cut 16,000 Jobs, CEO Launches “Turnaround Fire” Amid Investor Pressure
Nestle to cut 16,000 jobs as new CEO ignites a ‘turnaround fire,’ and it’s certainly a headline that grabs your attention. It seems the world’s largest packaged food company is undergoing a significant shake-up, with a new CEO, Philipp Navratil, at the helm and a clear mandate to cut costs and, crucially, win back investor confidence. That’s right, a whopping 5.8% of Nestle’s global workforce is about to see their positions eliminated. This isn’t just a small adjustment; it’s a major restructuring effort.
This move is part of a larger strategy. Navratil isn’t just trimming the fat; he’s aiming to boost efficiency and, as the analysts note, light a “turnaround fire.”… Continue reading
Matt Underwood