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Diageo, maker of Guinness, plans to save £625M over three years due to a 27.8% drop in profits.
Diageo, the maker of Guinness and Johnnie Walker, plans to save £625 million over three years to recover from a challenging year marked by a 27.8% drop in operating profits to $4.3 billion and a 0.1% decline in net sales to $20.2 billion.
The company attributes the financial downturn to weaker consumer demand and younger people drinking less.
Savings will come from efficiencies in advertising, reduced overheads, and supply chain improvements.
The cost-saving plan does not focus on job cuts, though some will occur.
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Diageo, fabricante de Guinness, planea ahorrar £625 millones en tres años debido a una caída del 27,8% en las ganancias.