The Globe and Mail reports in its Friday, Oct. 17, edition that Nestle is eliminating 16,000 jobs worldwide as the Swiss food giant trims costs to improve its financial performance. An Associated Press dispatch to The Globe reports that Nestle said Thursday the job cuts will take place over the next two years. Nestle also said it is raising targeted cost cuts to three billion Swiss francs by the end of next year, up from a planned 2.5 billion Swiss francs. Nestle Canada did not directly address questions about the impact of the cuts on Canadian operations. "The announced work force reduction applies to markets and functions globally over the next two years," said Catherine O Brien, senior vice-president at Nestle Canada. She added: "It will affect each market in a different way, and each market will prepare its own plan. At this stage, we are not in a position to give specific numbers." It has been a turbulent year for the company, based in Vevey, Switzerland. Last month, Nestle dismissed chief executive officer Laurent Freixe after an investigation into an undisclosed relationship with a subordinate. Mr. Freixe had been on the job for a year. He was replaced by Philipp Navratil, a Nestle executive.