**Nestlé to Cut 16,000 Jobs Globally Amid Cost-Cutting Measures** Nestlé announced plans to eliminate 16,000 jobs worldwide as part of a strategy to reduce costs and improve its financial performance. The Swiss food company, known for brands like Nescafé and KitKat, revealed on Thursday that these job cuts will occur over the next two years. In addition to the layoffs, Nestlé is increasing its targeted cost reductions to 3 billion Swiss francs (approximately $3.76 billion) by the end of next year, up from an earlier goal of 2.5 billion Swiss francs ($3.13 billion). This year has been particularly challenging for Nestlé, which is headquartered in Vevey, Switzerland. Last month, the company dismissed CEO Laurent Freixe following an investigation into an undisclosed relationship with a subordinate. Freixe had only served in the role for one year before being replaced by Philipp Navratil, a veteran executive at Nestlé. Shortly after Freixe's departure, Chairman Paul Bulcke also stepped down. Nestlé faces several external challenges, including rising commodity prices and tariffs imposed by the U.S. government. The company announced price increases over the summer to counteract the rising costs of coffee and cocoa. Recently, President Donald Trump implemented a 50% tariff on Brazilian goods, including coffee and orange juice, which has affected U.S. coffee consumption. Brazil, the world's largest coffee producer, supplies about 30% of the U.S. coffee market. The price of cocoa reached record highs last year due to adverse weather conditions that limited supply. Although cocoa prices began to decline in 2025 as supply improved, they remain significantly higher than two years ago. Nestlé's job cuts will include 12,000 white-collar positions across various locations, with an additional 4,000 jobs being eliminated as part of ongoing productivity initiatives in manufacturing and supply chain operations. The company anticipates that these reductions will lead to annual savings of 1 billion Swiss francs (about $1.25 billion) by the end of next year. "The world is changing, and Nestlé needs to change faster," Navratil stated in a press release. Following the announcement, shares of Nestlé rose nearly 8% on the SIX Swiss Exchange, with similar gains observed in U.S. trading. As the company moves forward, it remains to be seen how these job cuts will impact its operations and workforce in various regions, including Canada, where inquiries about specific job losses have not yet been addressed.