Nestle to axe 16,000 jobs as new CEO targets sales boost

Nestle is axing 16,000 jobs in the next two years as the consumer food giant’s new chief executive laid out plans to boost growth.

Nestle SA
16 October 2025 14:43:10

Source: Sharecast

The company, which owns brands such as Perrier and Nespresso, reported a 1.9% fall in nine-month sales to 65.9bn Swiss francs.

“The world is changing and Nestlé needs to change faster. This will include making hard but necessary decisions to reduce headcount over the next two years,” said new boss Philipp Navratil in the first financial announcement since his predecessor Laurent Freixe was fired over an undisclosed romantic relationship.

The staff cuts are almost 6% the total workforce and would include 12,000 white-collar roles, and a further 4,000 in the manufacturing and supply chain.

Navratil said Nestle was increasing its savings target to SFR 3bn by the end of 2027, up from the previous target of SFR 2.5bn. He added that driving volume growth was now the company's “our number one priority”.

Reporting by Frank Prenesti for Sharecast.com

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