Nestlé cuts 16,000 jobs as part of an intensifying cost-cutting campaign

Nestlé, which makes Nescafé drinks, Purina pet food and other products, said Thursday that the job cuts will take place over the next two years. The Swiss company also said that it is raising targeted cost cuts to 3 billion Swiss francs ($3.76 billion) by the end of next year, up from a planned 2.5...

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