Swiss food giant Nestlé announced on Wednesday that it plans to cut around 16,000 jobs worldwide over the next two years — roughly 6% of its global workforce — as part of a sweeping corporate restructuring.

The announcement came as the company reported third-quarter sales that exceeded market expectations. Nestlé said the layoffs will affect approximately 12,000 white-collar positions and 4,000 roles in manufacturing and supply chain operations.