The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Food And Beverage Manufacture Of Beverages 11.01 - Distilling, rectifying and blending of spirits
1,800 - 2,500 jobs Number of planned job losses
Announcement Date
22 June 2002
Employment effect (start)
Foreseen end date
1 December 2005
Description
Diageo, active in the manufacture of distilled potable alcoholic beverages such as Smirnoff, Johnnie Walker, Captain Morgan, etc. announced a world-wide restructuring plan due to its acquisition of Seagram. 1,600 jobs are affected.
In September 2003, the company announced restructuring could affect until 2,500 jobs world-wide by the end of 2005. To date, 1,800 workers have yet left the group.
Sources
29 September 2003: Les Echos
30 June 2002: Les Echos
Citation
Eurofound (2002), Diageo, Merger/Acquisition in World, factsheet number 59919, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/59919.