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Food and beverage giant the Swiss conglomerate announced it will cut 16,000 jobs within the coming 24 months, as its new CEO Philipp Navratil drives a plan to focus on products offering the “most lucrative outcomes”.

The Swiss company has to “adapt more quickly” to keep pace with a evolving marketplace and adopt a “achievement-focused approach” that rejects losing market share, said Mr Navratil.

He took over from ex-chief executive the previous leader, who was dismissed in last fall.

The layoff announcement were made public on the fourth weekday as the corporation reported stronger revenue numbers for the first three-quarters of 2025, with increased revenue across its major categories, such as coffee and sweets.

Globally dominant consumer packaged goods company, Nestlé operates numerous product lines, including Nescafé, KitKat and Maggi.

The company aims to get rid of twelve thousand professional jobs alongside four thousand additional positions company-wide within the next two years, it said in a statement.

These job cuts will result in savings of the corporation about one billion Swiss francs each year as within an sustained expense reduction program, it confirmed.

The company's stock value rose seven and a half percent following its trading update and restructuring news were announced.

Mr Navratil said: “We are cultivating a corporate environment that adopts a performance mindset, that will not abide competitive setbacks, and where success is recognized... Global dynamics are shifting, and the company requires accelerated transformation.”

Such change would include “hard but necessary decisions to cut staff numbers,” he said.

Financial expert an industry specialist remarked the announcement suggested that Mr Navratil aims to “bring greater transparency to aspects that were once ambiguous in Nestlé's cost-saving plans.”

The workforce reductions, she explained, are likely an initiative to “adjust outlooks and rebuild investor confidence through measurable actions.”

Mr Navratil's predecessor was dismissed by the company in the beginning of the ninth month after an investigation into reports from staff that he failed to report a romantic relationship with a junior employee.

The former board leader Paul Bulcke brought forward his departure date and resigned in the corresponding timeframe.

Sources indicated at the time that investors held accountable Mr Bulcke for the firm's continuing challenges.

The previous year, an inquiry discovered its baby formula and foods sold in developing nations included unhealthily high levels of sweeteners.

The study, conducted by non-profit organizations, determined that in numerous instances, the equivalent goods sold in developed nations had no added sugar.

• The corporation manages hundreds of labels worldwide.
• Workforce reductions will affect 16,000 employees throughout the next two years.
• Savings are anticipated to amount to CHF 1 billion each year.
• Share price climbed significantly post the announcement.