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Food and beverage giant the Swiss conglomerate announced it will cut sixteen thousand roles over the next two years, as its new CEO the company's fresh leader drives a initiative to concentrate on products offering the “greatest profit margins”.

The Swiss company needs to “evolve at a quicker pace” to keep pace with a changing world and implement a “results-oriented culture” that rejects losing market share, according to the CEO.

He took over from former CEO Laurent Freixe, who was terminated in the ninth month.

These workforce reductions were revealed on Thursday as Nestlé announced better revenue numbers for the first three-quarters of the current year, with increased sales across its key product lines, encompassing beverages and confectionery.

The world's largest packaged food and drink company, Nestlé operates a multitude of labels, like Nescafé, KitKat and Maggi.

The company plans to get rid of 12,000 white collar jobs alongside 4,000 additional positions company-wide over the coming 24 months, it stated officially.

The lay-offs will cut costs by the corporation approximately CHF 1 billion per annum as part of an sustained expense reduction program, it stated.

Nestlé's share price was up seven and a half percent following its trading update and restructuring news were announced.

The CEO said: “We are fostering a organizational ethos that adopts a performance mindset, that will not abide competitive setbacks, and where winning is rewarded... The world is changing, and we must adapt more rapidly.”

Such change would involve “difficult yet essential choices to cut staff numbers,” he noted.

Market analyst an industry specialist stated the announcement suggested that Nestlé's leader wants to “bring greater transparency to aspects that were previously more opaque in Nestlé's cost-saving plans.”

The job cuts, she noted, appear to be an attempt to “reset expectations and restore shareholder trust through concrete measures.”

Mr Navratil's predecessor was terminated by the company in the start of last fall subsequent to an inquiry into whistleblower allegations that he did not disclose a personal involvement with a direct subordinate.

The company's outgoing chair Paul Bulcke brought forward his leaving schedule and resigned in the corresponding timeframe.

It was reported at the time that shareholders attributed responsibility to the outgoing leader for the firm's continuing challenges.

Last year, an inquiry revealed its baby formula and foods marketed in low- and middle-income countries contained unhealthily high levels of sweeteners.

The study, conducted by non-profit organizations, determined that in many cases, the identical items available in wealthy countries had no added sugar.

• Nestlé owns a wide array of product lines worldwide.
• Job cuts will affect 16,000 workers during the next two years.
• Savings are anticipated to reach one billion Swiss francs annually.
• Equity climbed seven and a half percent post the update.