Diageo set to reduce staffing levels to boost profits
Drinks giant Diageo, parent company of Guinness Nigeria Plc and maker of Johnnie Walker Scotch whisky, Smirnoff vodka, and Baileys Irish cream, among others is said to be putting finishing touches to a possible headcount reduction in its London home office as it looks to boost profits.
A productivity programme initiated by the company in July 2015 to slash cost by as much as £500m over a three year period is expected to also reduce staffing levels across the globe.
“We announced last year that we would deliver a productivity programme over the three years ending fiscal 2019,” a Diageo spokesperson said. “This covers all aspects of how we run our business, as we continue to become more efficient and invest behind growth. As you would expect our employees will be the first to hear about any proposed changes to our structure.”
Diageo has seen reported net sales fall 3% in its full-year financial ending in June 2016, as organic growth and acquisitions were offset by currency headwinds and asset disposals.