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Nestle to cut 16,000 jobs

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Global food company Nestle is planning to cut around 16,000 jobs over a two-year period.

The cuts are reportedly part of a cost-cutting measure.

“The world is changing, and Nestle needs to change faster,” said Philipp Navratil, who became CEO last month after the firing of Laurent Freixe. “This will include making hard but necessary decisions."

Read more from The New York Times.

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