Nestle Layoffs, Oct. 16 -- Nestle SA is planning to slash 16,000 jobs just weeks after new Chief Executive Officer Philipp Navratil took charge at the foodmaking giant and vowed to accelerate a turnaround for the company.

The job cuts amount to around 6 per cent of Nestle's workforce.

"The world is changing, and Nestle needs to change faster," Navatril said in a statement on Thursday.

"This will include making hard but necessary decisions to reduce headcount."

Nestle, which makes Nespresso coffee capsules and KitKat candy bars, said on Thursday that the layoffs will happen over a period of two years.

The Nestle layoffs will be conducted globally, which means some employees from every country Nestle operates in are likely to be affect...