Nestle will axe 16,000 jobs as it tries to raise sales volumes, new CEO Philipp Navratil said on Thursday, as the world’s largest packaged food company reported better-than-expected sales growth thanks to pricing-led upticks in coffee and confectionery. Navratil, the former head of Nespresso, replaced Laurent Freixe, who was fired in September as chief executive…
According to market expert Anil Singhvi, the government’s recent GST reforms amount to a mini budget, delivering one of the biggest tax relief packages since the 2019 corporate tax cuts. These sweeping GST rate reductions cover almost all sectors where relief was expected and promise to stimulate consumption, business growth, and market confidence. “This is…
Who is Laurent Freixe Nestle CEO: Swiss food giant Nestle announced on Monday that it has dismissed CEO Laurent Freixe with immediate effect after an internal probe confirmed he had engaged in an undisclosed romantic relationship with a direct subordinate. The maker of Nescafe and Purina said the investigation concluded that Freixe’s relationship breached Nestle’s…