Reported 1 day ago
Italian spirits group Campari, under new CEO Simon Hunt, is set to undergo a significant organizational restructuring, including workforce reductions of about 10%, or 500 employees, to restore financial health. The company aims to enhance efficiency in resource allocation amidst declining profitability, marked by an 18.2% drop in third-quarter operating profit and anticipated challenges in the fourth quarter. Campari intends to streamline its product portfolio and cut costs to achieve growth in the medium term.
Source: YAHOO