Nestle to cut 16,000 jobs as part of cost savings initiative

Nestle, the world’s largest packaged-food company, is trimming its workforce by 16,000 over the next two years as it seeks to "substantially" reduce costs under its new CEO Philipp Navratil.In the Thursday announcement, Navratil established a new goal to achieve cost savings of 3 billion Swiss francs by the end of 2027, which is higher than its previous target."As Nestle moves forward, we will be rigorous in our approach to resource allocation, prioritizing the opportunities and businesses with the highest potential returns," Navratil said.HOW THE NESTLE CEO'S INAPPROPRIATE RELATIONSHIP WITH A