By bizn_fun 
The world’s largest packaged food and drink company, Nestle owns hundreds of brands, including Nescafe, KitKat and Maggi.
Nestle plans to get rid of 12,000 white collar jobs on top of 4,000 other roles across the board within the next two years, it said in a statement.
The lay-offs will save the food giant around 1bn SFr (£940m) annually as part of an ongoing cost-savings effort, it said.
Mr Navratil said: “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.”