The alcohol giant aims to save billions through layoffs, disposals, and operational changes over two years.
Diageo reduced its workforce by 1,922 employees, or 6.4%, to 27,938 in fiscal 2026, according to its annual report. The decline stems from layoffs, business disposals, and a site closure as part of a broader restructuring effort.
The company is investing $1.2 billion in a two-year plan to improve competitiveness, with $1.1 billion allocated to a new operating framework and $100 million for supply-chain changes. Workforce reductions were most pronounced in Africa, corporate functions, and Asia Pacific.
Diageo, which owns brands like Johnnie Walker and Guinness, operates in 180 countries and aims to generate significant cash savings through the restructuring.