Nestle increases cost savings target to CHF 3B by end of 2027

Philipp Navratil, Nestle (NSRGY) CEO commented: “Driving RIG-led growth is our number one priority. We have been stepping up investment to achieve this, and the results are starting to come through. Now we must do more and move faster to accelerate our growth momentum. As Nestle moves forward, we will be rigorous in our approach to resource allocation, prioritizing the opportunities and businesses with the highest potential returns. We will be bolder in investing at scale and driving innovation to deliver accelerated growth and value creation. We are fostering a culture that embraces a performance mindset, that does not accept losing market share, and where winning is rewarded. The world is changing, and Nestle needs to change faster. This will include making hard but necessary decisions to reduce headcount over the next two years. We will do this with respect and transparency. Along with other measures, we are working to substantially reduce our costs, and today we are increasing our savings target to CHF 3.0 billion by the end of 2027. The actions we are taking will secure Nestle’s future as a leader in our industry. Collectively, they will enable us to improve our overall performance and deliver shareholder value.”