Consumer goods giant Nestle has revealed plans to cut 16,000 jobs globally over the next two years as the company has said they need to “change faster” to reduce costs and will go automated.
Nestle will secure their future “as a leader in our industry” and the jobs to be axed will include 12,000 “white-collar professionals.”
The company is expecting to save around one billion Swiss francs or £940 million a year by 2027, Nestle will also cut a further 4,000 jobs across manufacturing and the supply chain.
Nestle who makes Nescafe and KitKat employs around 277,000 workers globally and has not provided details over how many jobs will be cut in the UK.
Philipp Navratil, Nestle’s chief executive, said, “The world is changing, and Nestle needs to change faster.
“This will include making hard but necessary decisions to reduce headcount over the next two years. We will do this with respect and transparency.
“The actions we are taking will secure Nestle’s future as a leader in our industry.
“Collectively, they will enable us to improve our overall performance and deliver shareholder value.”
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