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Food and beverage giant the Swiss conglomerate stated it will remove 16,000 roles during the upcoming biennium, as the recently appointed chief executive Philipp Navratil advances a strategy to prioritize products offering the “greatest profit margins”.

The Swiss company must “change faster” to stay aligned with a changing world and implement a “performance mindset” that refuses to tolerate losing market share, according to the CEO.

He replaced former CEO Laurent Freixe, who was terminated in September.

These workforce reductions were revealed on the fourth weekday as Nestlé shared stronger performance metrics for the first nine months of the current year, with higher revenue across its key product lines, including hot drinks and snacks.

Globally dominant consumer packaged goods corporation, Nestlé manages a multitude of product lines, like Nescafé, KitKat and Maggi.

Nestlé plans to eliminate 12,000 professional positions on top of 4,000 additional positions company-wide over the coming 24 months, it said in a statement.

The workforce reduction will cut costs by the corporation about one billion Swiss francs annually as part of an ongoing cost-savings effort, it confirmed.

Nestlé's share price increased 7.5% following its performance report and job cuts were announced.

Mr Navratil stated: “We are fostering a culture that embraces a results-driven attitude, that does not accept market share declines, and where success is recognized... Global dynamics are shifting, and we must adapt more rapidly.”

This transformation would involve “difficult yet essential decisions to trim the workforce,” he said.

Financial expert an industry specialist said the report signalled that Nestlé's leader wants to “increase openness to sectors that were formerly less clear in the company's efficiency strategy.”

The workforce reductions, she noted, are likely an attempt to “recalibrate projections and rebuild investor confidence through concrete measures.”

His forerunner was dismissed by Nestlé in the start of last fall following a probe into whistleblower allegations that he failed to report a romantic relationship with a junior employee.

The company's outgoing chair Paul Bulcke accelerated his leaving schedule and stepped down in the corresponding timeframe.

Media stated at the time that investors blamed Mr Bulcke for the firm's continuing challenges.

Last year, an investigation found its baby formula and foods sold in emerging markets had unhealthily high levels of sugar.

The study, by a Swiss NGO and the International Baby Food Action Network, found that in numerous instances, the same products available in developed nations had no added sugar.

• The corporation manages hundreds of product lines internationally.
• Workforce reductions will affect sixteen thousand staff members throughout the upcoming biennium.
• Cost reductions are estimated to reach one billion Swiss francs each year.
• Stock value climbed 7.5% following the news.