Diageo's new CEO plans big job cuts to save $1bn a year

Diageo CEO Dave Lewis announced a plan on 6 August 2026 to cut a large share of the company's roughly 30,000 workers. The goal is to save $1bn a year within two years. Making those cuts will cost $1.2bn up front, including $514m in payments to laid-off staff. Investors liked the plan — shares rose over 6%.