Nestlé layoffs, Oct. 16 -- Switzerland-based fast-moving consumer goods (FMCG) giant Nestle SA is planning to cut 16,000 jobs after its new Chief Executive Officer (CEO), Philipp Navratil, took charge and vowed to turn the company around.

Nestle SA's move to cut 16,000 jobs represents nearly 6% of the total number of employees working at the FMCG firm.

"The world is changing, and Nestle needs to change faster," Nestle CEO Philipp Navratil said in an official statement. "This will include making hard but necessary decisions to reduce headcount."

However, the company also announced that a layoff of this scale will be carried out over the next two years, affecting employees working for the KitKat candy bar maker in an effort to save ...