Cost reduction
Nestlé Announces Mass Layoffs and Cost-Cutting Plan to Revamp Business
Nestlé, the world's largest food company, has announced a major restructuring effort under its new chief executive, Philipp Navratil. The company plans to shed approximately 16,000 jobs over two years, accelerating a cost-cutting program that aims to reduce spending by 3 billion Swiss francs, or $3.7