12:42 - 17.10.2025

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October 17, Fineko/abc.az. Nestle intends to cut 16,000 employees by 2027 in order to reduce its costs and improve production efficiency, ABC.AZ reports, referring to the company's website.

The company intends to first reduce the 12,000 employees who work with clients in different regions. Philippe Navratil, CEO of the company, claims that such a decision will allow Nestle to save approx. 1 bn francs ($1.2 bn ) each year. This will be followed by layoffs of another 4,000 people to improve production and supply efficiency.

Nestle is a Swiss food manufacturing corporation. It was founded in 1866. The company produces products under such brands as KitKat, Maggi, Nesquik and Nestea.