Nestlé Announces 16,000 Layoffs as Food Giant Accelerates AI Strategy

‘The world is changing, and Nestlé needs to change faster,’ the new company CEO said.

Jars of Nescafe Gold coffee seen in the supermarket of Nestle headquarters in Vevey, Switzerland, on Feb. 13, 2020. Pierre Albouy/Reuters

Nestlé, the world’s largest food company, is cutting 16,000 jobs worldwide over the next two years as part of cost-cutting efforts, the company announced on Oct. 16.

The job cuts will affect 6 percent of its global workforce. About 12,000 white-collar jobs and another 4,000 positions in manufacturing and the supply chain will be impacted.