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Food and beverage giant Nestlé has declared it will eliminate 16,000 positions within the coming 24 months, as its new CEO the company's fresh leader advances a strategy to concentrate on products offering the “most lucrative outcomes”.

The Swiss company has to “change faster” to keep pace with a changing world and adopt a “achievement-focused approach” that refuses to tolerate declining competitive position, according to the CEO.

He took over from former CEO the previous leader, who was let go in September.

The job cuts were made public on the fourth weekday as Nestlé reported improved sales figures for the first three-quarters of the current year, with higher revenue across its key product lines, including coffee and sweets.

The world's largest packaged food and drink corporation, Nestlé owns numerous product lines, among them Nescafé, KitKat and Maggi.

Nestlé intends to eliminate twelve thousand white collar roles on top of four thousand additional positions throughout the organization during the next biennium, it stated officially.

These job cuts will result in savings of the food giant around one billion Swiss francs each year as within an sustained expense reduction program, it said.

The company's stock value increased 7.5% shortly after its performance report and restructuring news were made public.

Mr Navratil commented: “We are cultivating a corporate environment that embraces a performance mindset, that will not abide market share declines, and where winning is rewarded... The world is changing, and Nestlé needs to change faster.”

This transformation would include “tough but required decisions to cut staff numbers,” he added.

Equity analyst a financial commentator said the announcement signalled that Mr Navratil seeks to “increase openness to aspects that were previously more opaque in Nestlé's cost-saving plans.”

The job cuts, she explained, are likely an attempt to “adjust outlooks and regain market faith through concrete measures.”

Mr Navratil's predecessor was dismissed by Nestlé in the beginning of the ninth month following a probe into internal complaints that he omitted to reveal a private liaison with a direct subordinate.

The former board leader the ex-chairman brought forward his exit timeline and resigned in the identical period.

Media stated at the period that shareholders held accountable Mr Bulcke for the company's ongoing problems.

In the prior year, an inquiry found Nestlé baby food products marketed in low- and middle-income countries had undesirably high quantities of added sugars.

The study, by a Swiss NGO and the International Baby Food Action Network, found that in several situations, the equivalent goods marketed in wealthy countries had zero additional sweeteners.

• Nestlé owns hundreds of product lines globally.
• Workforce reductions will involve 16,000 staff members throughout the upcoming biennium.
• Savings are estimated to amount to one billion Swiss francs each year.
• Equity increased seven and a half percent post the update.