Nestle: Mixed Sentiment Amid Cost-Cutting Initiative

10 days ago

Chloe Malay

"So Nestle actually had two good news for investors today. So first, it reported stronger than expected sales growth on on the back of both price and volume increases, which is quite positive given that it really has struggled to revive volumes over the last few months. And then the other big thing, which is the thing that you just mentioned, which is that plan to cut 16,000 jobs over the next couple of years. Its a really bold start for the new CEO, Philip Novatil, helping to restore investors trust in Nestle, although the outlook remains quite fragile."

The speaker outlines Nestles recent positive sales growth and a major cost-cutting move by cutting 16,000 jobs, which is intended to restore investor confidence under a new CEO despite underlying fragility.

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