Diageo Announces $1 Billion Cost-Cutting Plan to Boost Growth
Diageo, the world's largest spirits maker, unveiled a $1 billion cost-cutting plan aimed at driving growth and improving its financial performance. Following the announcement, the company's shares saw a significant bounce.
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Diageo boss Lewis launches aggressive cost-cutting to revive drinks group
Chief executive sets out restructuring plan for maker of Guinness and Johnnie Walker
Read full article →Diageo shares bounce back as new CEO Dave Lewis lifts spirits with $1bn savings plan
Ex-Tesco boss known as ‘Drastic Dave’ for his cost-cutting zeal pledges more of the same at flagging Guinness owner Shares in Diageo have bounced after the Guinness owner’s chief executive, “Drastic Dave” Lewis, passed the first big test of his plan to revive the flagging fortunes of the UK-based drinks company. Lewis, a former Tesco boss known in the City for his cost-cutting zeal, promised to deliver $1bn of savings over two years through a “significant” restructuring aimed at making the co...
By Rob Davies
Read full article →World's biggest spirits maker pops 6% on $1 billion cost-cutting plan
Diageo, whose brands include Johnnie Walker scotch whisky, Captain Morgan rum and Guinness stout, said costs relating to the savings program will amount to $1.2 billion.
Read full article →Diageo boss launches £743m cost-cutting plan to deliver turnaround
It came as the drinks giant, which also makes Gordon’s gin and Baileys, revealed weaker sales and profits for the past year.
By Henry Saker-Clark
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