AhlulBayt News Agency: Nestlé, the Swiss multinational food company with business ties to the Israeli regime, has announced plans to cut 16,000 jobs worldwide amid growing boycott campaigns triggered by Israel’s war on Gaza.
On Thursday, Nestlé—known for brands like Nescafé and KitKat—stated that the layoffs will be implemented over the next two years.
The company also revealed it will increase its cost-cutting target to 3 billion Swiss francs ($3.76 billion) by the end of next year, up from the previously planned 2.5 billion francs ($3.13 billion).
“Nestlé must accelerate its transformation in response to global changes,” said CEO Philipp Navratil in a statement.
Of the planned cuts, 12,000 will affect white-collar roles across various locations, while 4,000 will come from productivity measures in manufacturing and supply chain operations.
These reductions are expected to save Nestlé approximately 1 billion Swiss francs ($1.25 billion) annually by the end of next year.
Last year, Nestlé acknowledged a decline in sales after becoming a major target of the Boycott, Divestment and Sanctions (BDS) movement due to its ownership of Israeli food company Osem.
The boycott of pro-Israeli brands intensified after October 2023, when Israel launched a two-year war on Gaza that killed nearly 70,000 Palestinians, mostly women and children.
In a related development, Starbucks—a U.S. coffee chain also facing boycott pressure—announced last month it would lay off around 900 employees and close 100 stores across North America.
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