Diageo chief signals job cuts

Thousands of staff at the drinks manufacturer Diageo are concerned about their jobs following a warning from the company behind Guinness that it is planning a major restructuring.

Paul Walsh, Diageo's chief executive, said consultations with staff would begin as the company sought to "ensure resources are deployed closer to the market and in those areas where the potential for growth is greatest". That would appear to have negative implications for staff in the UK and Ireland.

Mr Walsh said: "The regional variation in the pace of economic growth has created significant change and new opportunities for Diageo as a global business."