Diageo CEO Sir Dave Lewis plans unspecified job cuts across the brewer’s 30,000 global workforce as part of fresh cost-saving measures after a 2.8% fall in underlying sales and halving the dividend since his January appointment. A shareholder update is set for August 6 at Capital Markets Day.
Sir Dave Lewis has instructed executives to identify positions for elimination across Diageo’s 30,000 global workforce as part of a broader redesign of the operating framework. Final job-cut numbers are pending and an internal announcement to employees is expected next week.
Diageo reported a 2.8% decline in underlying sales and operating profits in its latest half-year results and has halved its dividend since Lewis took charge in January. Shares have fallen over 50% from their 2022 peak, with particularly weak demand in the US market.
The company has committed to update shareholders on progress at its Capital Markets Day on August 6, following priority briefings to affected colleagues. This event will outline further turnaround plans and financial targets under Lewis’s leadership.
