Nestlé SA has begun issuing retrenchment notices to more than 400 employees in South Africa as part of a global overhaul that reorganises the company around four core divisions, according to people familiar with the matter. At least 100 employees have begun severance talks, the people said, who asked not to be identified because the information is private. The process marks the start of a broader restructuring of Nestlé’s Africa operations, with further layoffs expected, including in its East African business, the people said. The global food giant, under new Chief Executive...