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Food and beverage giant Nestlé has declared it will cut sixteen thousand roles within the coming 24 months, as the recently appointed chief executive the company's fresh leader advances a plan to prioritize products offering the “most lucrative outcomes”.

The Swiss company must “evolve at a quicker pace” to keep pace with a changing world and embrace a “results-oriented culture” that refuses to tolerate ceding ground to competitors, the executive stated.

His appointment followed former CEO Laurent Freixe, who was let go in the ninth month.

The job cuts were disclosed on Thursday as the corporation shared improved sales figures for the initial three quarters of the current year, with increased product movement across its major categories, including beverages and confectionery.

The biggest packaged food and drink company, this industry leader operates numerous product lines, including Nescafé, KitKat and Maggi.

Nestlé aims to get rid of twelve thousand administrative roles in addition to 4,000 additional positions throughout the organization within the next two years, it said in a statement.

The lay-offs will cut costs by the consumer goods leader about one billion Swiss francs annually as part of an continuous efficiency drive, it said.

Its equity price rose by more than seven percent shortly after its trading update and restructuring news were made public.

Nestlé's leader stated: “We are cultivating a corporate environment that adopts a performance mindset, that will not abide market share declines, and where achievement is incentivized... Global dynamics are shifting, and we must adapt more rapidly.”

Such change would involve “hard but necessary actions to trim the workforce,” he noted.

Financial expert an industry specialist stated the update signalled that the new CEO seeks to “bring greater transparency to aspects that were once ambiguous in Nestlé's cost-saving plans.”

The job cuts, she explained, are likely an attempt to “reset expectations and regain market faith through tangible steps.”

The former CEO was sacked by the company in early September following a probe into reports from staff that he failed to report a private liaison with a junior employee.

The former board leader Paul Bulcke moved up his exit timeline and left his post in the same month.

Media stated at the time that stakeholders blamed the former chairman for the firm's continuing challenges.

The previous year, an inquiry revealed infant nutrition items from the company marketed in low- and middle-income countries included unhealthily high levels of added sugars.

The analysis, by a Swiss NGO and the International Baby Food Action Network, found that in several situations, the equivalent goods available in wealthy countries had zero additional sweeteners.

• The corporation manages numerous brands internationally.
• Job cuts will affect 16,000 employees over the coming 24 months.
• Cost reductions are projected to amount to 1bn SFr per year.
• Share price increased 7.5% post the news.