Nestle, the world's largest food company, is making headlines by announcing a staggering 16,000 job cuts as part of a bold strategy initiated by its new CEO. This shakeup is aimed at slashing costs and enhancing operational efficiency in response to increasing automation and market pressures.

Key points include:

• The job cuts are part of a significant restructuring plan.
• Automation plays a crucial role in the decision to reduce workforce.
• Despite the layoffs, Nestle's earnings have shown a positive trend, leading to a notable jump in share prices.
• The move aims to ignite sales growth and ensure long-term sustainability.

Here's the full scoop.