Nestle's New CEO Navratil Announces 16,000 Job Cuts, Portfolio Overhaul
Photo by Louis Hansel on Unsplash
Nestle, under new CEO Philipp Navratil, is restructuring by cutting 16,000 jobs and reviewing its portfolio to concentrate on high-growth areas. This plan to address underperforming assets within the $245 billion food and beverage company, including potential divestitures, has increased Nestle's stock by 9.3%.
Key takeaways
- Nestle's newly appointed CEO, Philipp Navratil, has announced a strategic restructuring initiative that includes a reduction of 16,000 positions and a comprehensive portfolio review
- The plan aims to sharpen Nestle's focus on its highest-growth business segments
- This strategic realignment follows recent management changes and has been met favorably by investors, with Nestle's shares rising 9
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