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Food and beverage giant Nestlé announced it will eliminate 16,000 jobs during the upcoming biennium, as its new CEO the company's fresh leader pushes a plan to concentrate on products offering the “greatest profit margins”.

The Swiss company has to “evolve at a quicker pace” to keep pace with a dynamic global environment and adopt a “results-oriented culture” that refuses to tolerate ceding ground to competitors, said Mr Navratil.

He took over from ex-chief executive Laurent Freixe, who was terminated in September.

These workforce reductions were made public on the fourth weekday as Nestlé shared stronger sales figures for the initial three quarters of the current year, with expanded revenue across its key product lines, such as hot drinks and snacks.

The world's largest consumer packaged goods corporation, Nestlé operates a multitude of brands, including its coffee, chocolate, and food brands.

The company intends to get rid of 12,000 professional roles in addition to four thousand further jobs company-wide within the next two years, it said in a statement.

These job cuts will save the consumer goods leader approximately 1bn SFr (£940m) annually as a component of an continuous efficiency drive, it said.

Its equity price rose seven and a half percent following its trading update and job cuts were made public.

Nestlé's leader stated: “We are fostering a corporate environment that adopts a results-driven attitude, that will not abide losing market share, and where winning is rewarded... Global dynamics are shifting, and the company requires accelerated transformation.”

The restructuring would encompass “hard but necessary decisions to cut staff numbers,” he added.

Equity analyst an industry specialist said the announcement indicated that Nestlé's leader aims to “bring greater transparency to aspects that were once ambiguous in its expense reduction initiatives.”

The workforce reductions, she explained, are likely an attempt to “recalibrate projections and restore shareholder trust through tangible steps.”

Mr Navratil's predecessor was terminated by Nestlé in the beginning of the ninth month after an investigation into whistleblower allegations that he did not disclose a private liaison with a immediate staff member.

Its departing chairman the ex-chairman brought forward his departure date and resigned in the corresponding timeframe.

It was reported at the time that stakeholders blamed the outgoing leader for the corporation's persistent issues.

The previous year, an investigation found Nestlé baby food products available in emerging markets contained undesirably high quantities of added sugars.

The research, carried out by advocacy groups, found that in several situations, the equivalent goods sold in developed nations had zero additional sweeteners.

• Nestlé manages hundreds of brands internationally.
• Job cuts will involve 16,000 staff members throughout the upcoming biennium.
• Cost reductions are projected to amount to one billion Swiss francs each year.
• Equity increased 7.5% post the news.