Nestlé Posts Strong Q3 Growth, But Announces 16,000 Job Cuts
Nestlé surprised the market with 1.5% growth in real internal sales (RIG) in the third quarter—well above expectations of 0.3%. The boost came mainly from higher pricing in coffee and confectionery. That said, the packaged-foods giant also revealed plans to cut 16,000 jobs globally over the next two years. The reductions include 12,000 white-collar roles…