Diageo reduced its workforce by almost 2,000 people in its last financial year as part of the company’s efforts to cut costs and improve its performance. <\/p>\n
According to Diageo’s latest annual report, issued yesterday (18 August), the Johnnie Walker distiller had 27,938 full-time equivalent roles in the year to the end of June. <\/p>\n
Twelve months earlier, that number stood at 29,860 a year earlier, a reduction of 1,922 employees, or about 6.4%. <\/p>\n
In Diageo’s 2023\/24 financial year, it had 30,367 full-time equivalent roles. <\/p>\n
The steepest regional reduction in the last 12 months came in Africa, where average headcount fell from 2,848 to 1,920. <\/p>\n
North America and Europe were the only areas to see positions increase year on year. <\/p>\n
In a statement alongside the report, Diageo CEO Sir Dave Lewis, who started at Diageo in January, said: “During the year, the board took action to create the financial flexibility needed to support the turnaround. We have to strengthen the balance sheet and reduce leverage, while continuing to invest in the areas that will make Diageo more competitive. These are not separate choices.” <\/p>\n
Diageo has been under scrutiny for months over the scale of job losses tied to Lewis’s turnaround plans. <\/p>\n
Earlier this month, the Tanqueray distiller said it is seeking around $1bn in savings<\/a> over three years, with about $850m expected to come from a “redesign” of its “operating framework”. <\/p>\n