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Diageo sheds nearly 2,000 jobs as 'Drastic Dave' leads overhaul
Diageo reported an average of 27,938 employees at fiscal 2026 end, down from 29,860 a year earlier, as CEO Dave Lewis pushes a $1 billion savings plan.
- On Aug 19, 2026, Diageo reported its total headcount fell more than 6% year-on-year, as the world's top spirits maker embarks on a major restructuring under new CEO Dave Lewis.
- Lewis, nicknamed 'Drastic Dave' for his cost-cutting history at Tesco and Unilever, said the headcount changes target global back-office functions and areas of 'massive duplication' within the company.
- Reuters reported in July that some Diageo teams were cutting around 20% to 30% of their staff as part of deep overhead reductions, while the company reported an average of 27,938 employees by fiscal 2026.
- As part of its $1 billion savings plan, the company intends to lower prices on select brands while expanding in fast-growing categories including Guinness and canned cocktails.
- Investor sentiment turned positive following the restructuring announcement, with Diageo shares soaring as markets reacted to the cost-cutting strategy. The company noted 'Hard work ahead' during the transition.
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Diageo boss 'drastic' Dave Lewis eyes £20m pay as jobs slashed
Diageo boss Sir Dave Lewis could take home as much as £20m in pay for the next year, it has emerged, while the drinks giant sheds 2,000 staff. The chief executive of the Guinness and Smirnoff maker could make as much as £20m in the year to June 2027, though he is more likely to make about £9m, according to the firm’s annual report. This would still nearly triple the final pay packet of his predecessor, Debra Crew, who departed the FTSE 100 firm…
·London, United Kingdom
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Total News Sources16
Leaning Left0Leaning Right4Center4Last UpdatedBias Distribution50% Center, 50% Right
Bias Distribution
- 50% of the sources are Center, 50% of the sources lean Right
50% Right
C 50%
R 50%
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