Nestle, the manufacturer of KitKat candy bars and Nespresso coffee capsules, announced on Thursday that the layoffs will take place over a two-year period.
Layoffs at Nestle: Only a few weeks after Philipp Navratil, the company's new CEO, took over and promised to speed up the company's turnaround, Nestlé SA is preparing to lay off 16,000 employees.Roughly 6% of Nestle's workforce has lost their jobs.
"Nestle needs to change faster because the world is changing," Navratil said in a statement on Thursday.
"This will entail making difficult but essential choices to cut headcount."
When can we expect Nestle to lay off employees?
Nestle, the manufacturer of KitKat candy bars and Nespresso coffee capsules, announced on Thursday that the layoffs will take place over a two-year period.
Who is going to lose their job?
Since the Nestle layoffs will take place worldwide, some employees from each of the nations where Nestle operates are probably going to be impacted.
In addition to the 4,000 job cutbacks already occurring in production and the supply chain, the layoffs comprise 12,000 white-collar workers.
The CEO of Nestle sets a lofty goal.
According to Nestle, the food manufacturing behemoth will save 1 billion Swiss francs as a result of the layoffs, which is double what was first anticipated.
Nestle, the manufacturer of KitKat candy bars and Nespresso coffee capsules, announced on Thursday that the layoffs will take place over a two-year period.
Who is going to lose their job?
Since the Nestle layoffs will take place worldwide, some employees from each of the nations where Nestle operates are probably going to be impacted.
In addition to the 4,000 job cutbacks already occurring in production and the supply chain, the layoffs comprise 12,000 white-collar workers.
The CEO of Nestle sets a lofty goal.
According to Nestle, the food manufacturing behemoth will save 1 billion Swiss francs as a result of the layoffs, which is double what was first anticipated.
Higher pricing and better real internal growth, a crucial indicator of volumes that analysts and investors actively monitor, were the main drivers of the higher-than-expected increase in sales.
In premarket trading, Nestle shares are up 3.4% at Julius Baer. This year, the foodmaker's 1.7% increase has lagged behind the Swiss Market Index's 8% climb.
The layoffs also follow an internal conflict that rocked Nestle's high management earlier this year, despite the company's reputation for having a stuffy corporate culture.
In September, Navratil became the new CEO of Nestle after Laurent Freixe was fired by the Swiss business for allegedly having an affair with a subordinate at work.
In premarket trading, Nestle shares are up 3.4% at Julius Baer. This year, the foodmaker's 1.7% increase has lagged behind the Swiss Market Index's 8% climb.
The layoffs also follow an internal conflict that rocked Nestle's high management earlier this year, despite the company's reputation for having a stuffy corporate culture.
In September, Navratil became the new CEO of Nestle after Laurent Freixe was fired by the Swiss business for allegedly having an affair with a subordinate at work.
Philipp Navratil began working for Nestlé in 2001 and has been with the company for decades.
Since taking over, Navratil has stated that he will continue to implement Freixe's approach of increasing advertising expenditures, placing bets on fewer but larger product ventures, and eliminating underperforming businesses.
In an interview with reporters on Thursday, he stated that increasing real internal growth is Nestlé's top objective. He also mentioned that the business is now reviewing every aspect of its portfolio.
Since taking over, Navratil has stated that he will continue to implement Freixe's approach of increasing advertising expenditures, placing bets on fewer but larger product ventures, and eliminating underperforming businesses.
In an interview with reporters on Thursday, he stated that increasing real internal growth is Nestlé's top objective. He also mentioned that the business is now reviewing every aspect of its portfolio.
0 Comments