Pakistan, Oct. 16 -- Nestle, the world's largest food and beverage company, has announced plans to cut 16,000 jobs worldwide over the next two years as part of a major restructuring initiative. The company's new Chief Executive Officer, Philipp Navratil, stated that the move is essential for adapting to changing global business dynamics. He emphasized that Nestle "needs to change faster" to remain competitive in the evolving market landscape.

The planned layoffs will primarily target 12,000 white-collar positions, while another 4,000 roles will be reduced from production and supply chain operations already undergoing restructuring. This decision is expected to save the company around one billion Swiss francs, doubling its initial cost-sa...