New Delhi: Nestle, the Swiss food and beverage giant known for brands like Nespresso, Kit Kat, Perrier, and Purina, announced on Thursday that it will cut 16,000 jobs worldwide over the next two years.

The move comes as the company aims to speed up its transformation under new CEO Philipp Navratil, who took charge in early September.

“The world is changing, and Nestle needs to change faster,” Navratil said in a statement.

He added that the job cuts were part of “hard but necessary decisions to reduce headcount” and streamline operations amid changing market conditions.

Of the 16,000 jobs being cut, 12,000 are white-collar positions. Nestle expects this reduction to save one billion Swiss francs, which is double the savings initially planned.

These layoffs come in addition to 4,000 jo

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