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Evening Standard

Holly Williams

Nestle ramps up cost-cutting by another £2.2bn in overhaul

Nestle Laurent Freixe

Nestle has revealed plans to slash costs by at least another 2.5 billion Swiss francs (£2.2 billion) (Dominic Lipinski/PA) - (PA Archive)

KitKat maker Nestle has revealed plans to slash costs by at least another 2.5 billion Swiss francs (£2.2 billion) and spin off its premium water and drink business as part of a turnaround being led by its new boss.

Recently-appointed chief executive Laurent Freixe said the Swiss group will make the mammoth savings by the end of 2027 – on top of an ongoing existing programme to trim costs by 1.2 billion Swiss francs (£1.1 billion).

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