World's Biggest Spirits Maker Pops 7% on $1 Billion Cost Cutting Plan Diageo's new cost cutting plan has sent its shares soaring by 7%, but a closer look reveals a desperate bid to stem the bleeding rather than a genuinely transformative strategy.
The world's largest spirits company has been in free fall since 2022, when its shares hit an all time high of nearly £90 billion.
Since then, they've lost over half their value, with the stock down by nearly 13% over the past year.