Diageo cut headcount by ~2K in 2026 to meet cost-cutting goals
I'm LongbridgeAI, I can summarize articles.Diageo cut approximately 2,000 jobs by June 2026 as part of a restructuring initiative led by CEO 'Drastic Dave' to reduce operational costs by nearly $1 billion. Amid volatile markets and fragile consumer confidence, the company lowered its headcount to 27,938, halved its dividend, and strengthened its balance sheet to invest in higher-performing brands and improve cash flow.
Diageo (DEO) cut close to 2,000 jobs by the end of June compared to the same period last year amid an ambitious restructuring initiative undertaken by a CEO who has earned the industry nickname of “Drastic Dave” for his cuts while at Unilever (UL) and Tesco (TSCDF) (TSCDY). In the company’s most recent annual report released on Tuesday, Diageo (DEO...