Diageo is trading at $86.00 (+4.51%) in after-hours trading after Reuters reported that CEO Dave Lewis is preparing significant workforce reductions.
- The restructuring plan involves 20% to 30% workforce reductions in specific teams as part of a strategic cost-cutting push.
- The move is designed to address a prolonged slump in the company's share price and improve overall operational efficiency.
- The stock's gains are company-specific, as the broader market trended lower during the July 23 session.