Reported 14 days ago
Nestlé's new CEO, Philipp Navratil, announced plans to cut 16,000 jobs to streamline operations following a significant sales boost, marking its largest stock increase in 17 years. The job reductions, accounting for about 6% of the workforce, come alongside a 4.3% rise in quarterly sales. Navratil aims to enhance Nestlé’s growth strategy while adhering to previous plans of trimming underperforming units and increasing cost savings.
Source: YAHOO