NESTLE LAYS OF 16,000 AFTER CEO FIRED

Nestle is cutting 16,000 jobs after their CEO was fired for an inappropriate relationship at work.

1. The cuts represent 5.8%of Nestles 277,000 Employees.
2. 12,000 jobs will be white color and 4,000 further headcount reduction in manufacturing and supply chain.
3. Cost have risen and debt has climbed for Nestle.
4. Nestle had to fox both their branding which as been largely negative press around their water rights fights.
5. When leadership acts badly it makes the company values uncertain and they need to fix that from within.
6. Despite the layoffs the company has grown 3.7% the last quarter. If you are that profitable and doing layoffs it’s not a good look for a company and future employees should beware of working there if they will lay people off while profitable.

Story credit goes to Reuters

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