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Food and beverage giant Nestlé has declared it will remove sixteen thousand jobs within the coming 24 months, as the recently appointed chief executive the company's fresh leader pushes a initiative to focus on products offering the “greatest profit margins”.

The Swiss company must “adapt more quickly” to keep pace with a dynamic global environment and embrace a “results-oriented culture” that rejects ceding ground to competitors, the executive stated.

He replaced former CEO the previous leader, who was terminated in September.

These workforce reductions were disclosed on Thursday as the corporation shared improved revenue numbers for the first nine months of the current year, with higher sales across its key product lines, including hot drinks and snacks.

Globally dominant food & beverage company, this industry leader owns numerous brands, among them its coffee, chocolate, and food brands.

Nestlé plans to eliminate 12,000 white collar roles in addition to four thousand other roles company-wide during the next biennium, it stated officially.

The lay-offs will result in savings of the consumer goods leader approximately one billion Swiss francs annually as within an continuous efficiency drive, it said.

Nestlé's share price was up seven and a half percent following its trading update and job cuts were revealed.

Mr Navratil stated: “We are fostering a culture that adopts a results-driven attitude, that refuses to tolerate losing market share, and where winning is rewarded... The marketplace is evolving, and we must adapt more rapidly.”

The restructuring would include “hard but necessary actions to trim the workforce,” he said.

Equity analyst an industry specialist said the report suggested that the new CEO aims to “bring greater transparency to areas that were formerly less clear in Nestlé's cost-saving plans.”

These layoffs, she explained, seem to be an effort to “recalibrate projections and regain market faith through concrete measures.”

The former CEO was dismissed by the company in early September following a probe into internal complaints that he omitted to reveal a romantic relationship with a junior employee.

Its departing chairman the ex-chairman moved up his exit timeline and stepped down in the same month.

Sources indicated at the period that shareholders held accountable Mr Bulcke for the firm's continuing challenges.

Last year, an study found infant nutrition items from the company sold in developing nations contained unhealthily high levels of added sugars.

The study, carried out by advocacy groups, determined that in several situations, the same products available in developed nations had no extra sugars.

• The corporation operates numerous brands worldwide.
• Job cuts will affect sixteen thousand employees throughout the upcoming biennium.
• Cost reductions are projected to total 1bn SFr annually.
• Share price increased 7.5% after the update.