Diageo cuts nearly 2,000 jobs in its last fiscal year - Demócrata
Article excerpt
The British alcoholic beverages group Diageo, owner of well-known brands such as Johnnie Walker, Guinness, or Baileys, has eliminated 1,922 jobs throughout its fiscal year 2026, alongside a broad reorganization plan with which it aims to achieve savings of about 1 billion dollars (863 million euros). According to details in its annual report for 2026 submitted to the U.S. Securities and Exchange Commission (SEC), the multinational has reduced its total workforce to 27,938 employees, down from 29,860 in the previous year, which amounts to a 6% adjustment of its workforce. Nearly 1,000 of the eliminated jobs are concentrated in its business in Africa, a region that will be integrated into a single unit along with Europe. The latter has been the only geographical area where the number of workers has grown, although only by about 100 new positions. The company is confident that the review of its operational structure will generate savings of around 850 million dollars (736 million euros), with approximately 40% of that figure materializing in fiscal year 27. In addition, there are about 150 million dollars (130 million euros) in additional savings derived from specific measures on the supply chain. "During the year, the board took steps to create the financial flexibility needed to support recovery. We must strengthen the balance sheet and reduce leverage while continuing to...
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As part of this process, key positions in the executive team have been redefined following the departure of Ed Pilkington, Chief Marketing and Innovation Officer for North America; Hina Nagarajan, President for Africa; and Louise Prashad, Chief Human Resources Officer.
