Diageo to axe 200 jobs in cost-cutting bid

Diageo is continuing its cost-cutting bid by axing around 200 head office and regional jobs, according to reports.

Ivan Menezes, CEO of Diageo, is to cut around 200 head office and regional roles, reports claim

According to The Telegraph, the world’s biggest drinks company will primarily cut roles such as marketing in its London-based head office team, as well as a number of regional roles.

Diageo CEO Ivan Menezes revealed in January that he planned to save Diageo £200 million annually by June 2017 by “de-layering” its business after encountering financial difficulties in the emerging markets.

The Johnnie Walker whisky and Smirnoff vodka maker continued to see its profits slide in 2014, announcing in April that sales in the Asia Pacific region had dropped a massive 19%.

The effects of Diageo’s austerity measures have been felt across the globe, with the company announcing a number of redundancies at its Australian Bundaberg Rum distillery last month.

A Diageo spokesman said: ““We announced back in January a review of the organisation to support our evolving global footprint.

“We’ve put in place a structure whereby resource and decision-making is deployed at a local level wherever possible, closer to customers and consumers and enhancing our responsiveness and agility.”

The company has not yet specifically commented on the most recently reported job cuts.