Decade after a tough year of hefty losses, global drink retailer Diageo is ramping up its cuts to keep its operating profits stable. The firm, part of the FTSE 100 list, reported operating profits of £33 billion—a 27.8% decline, less than two years into 2023. This fluke year, with reasons including currency fluctuations and a shift in its brand portfolio—and the challenges faced byiphones like Johnnie Walker whisky—led Diageo to prioritize cost efficiency, rather than layoffs. Ian Jhangiani, interim boss of the group, has explained that the company is not about cutting jobs but about achieving measurable savings over the next three years. He stressed that the plan will solidify a three-year increase in workforce levels.
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