Diageo cut nearly 2K jobs during restructuring

Diageo cut nearly 2K jobs during restructuring

Wed, August 19, 2026 at 12:29 PM GMT+3 2 min read

• DEO +1.13%

This story was originally published on Food Dive. To receive daily news and insights, subscribe to our free daily Food Dive newsletter.

Diageo cut its global workforce by nearly 2,000 jobs, or by more than 6%, the company disclosed in its annual report Tuesday, as part of its vast restructuring plan to turn the spirits and beer maker back toward growth.

The Guinness owner had an average of 27,938 full-time employees in 2026, down from 29,860 in 2025. Earlier this month, the company announced its plan to cut $1 billion in costs over the next three years.

During its annual meeting earlier this month, newly appointed CEO Dave Lewis noted that the program would result in layoffs, though he didn't specify the number at the time.

"A restructuring program of this size obviously has very significant impacts on Diageo colleagues, and I'd like to put on the record my deep appreciation for the way that Diageo colleagues have engaged with this changed program, most of which has been communicated throughout the business a month or so ago," he said at the time.

Also in its annual report, Diageo disclosed leadership changes to its executive team under Lewis.

John O'Keeffe, previously CEO of the Asia Pacific region, became CEO of Diageo's North American business in April. The North America region is a key focus in Diageo's plan for growth, particularly in the U.S. The region experienced a 8.4% decline in fiscal 2026.

Sujay Wasan, meanwhile, was appointed president of the APAC region for the company, and Dayalan Nayager became president of the newly combined Europe, the Middle East and Africa region.

Louise Prashad, chief HR officer; Hina Nagarajan, president of Diageo Africa; and Sally Grimes, president of Diageo North America, each departed the company.

Diageo's net sales for the 2026 fiscal year totaled $19.6 billion, a 2% decrease over last year. Diageo's turnaround plan is largely focused on boosting already profitable segments for the beer and spirits maker, particularly ready-to-drink cocktail offerings and Guinness.

Recommended Reading

• Diageo supplier to idle 2 Kentucky whiskey distilleries

• ',