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Swiss food giant Nestlé, known for brands such as Nespresso coffee and Perrier water, has announced plans to cut 16,000 jobs worldwide over the next two years.
The company’s new Chief Executive Officer, Philipp Navratil, revealed the decision on Thursday, saying the move was part of a broader effort to adapt to global changes.
“The world is changing, and Nestlé needs to change faster,” Navratil stated.
The announcement came as Nestlé released its nine-month financial report, showing a 1.9 percent drop in sales to 65.9 billion Swiss francs (€71 billion).
