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News Briefs for September 19, 2016

September 19, 2016

•Diageo’s ongoing “productivity program” is likely to result in a slimming down of its global workforce, according to reports out of the U.K. A source for The Sunday Times said a review currently underway could result in significant cuts across Diageo’s global staff of about 33,000. Diageo said its efficiency plan—intended to save £500 million ($654m) over three years—“covers all aspects of how we run our business.” In late July, Diageo reported annual results for the month through June in which net sales rose 2.8% organically to about $13.8 billion, while operating profit increased 1.6%.

•Champagne Armand de Brignac will release a new “ultra-prestige cuvée” next month, Blanc de Noirs A2. A 100% Pinot Noir bubbly from the 2008, 2009 and 2010 vintages, Blanc de Noirs A2 is being launched in an individually-numbered batch of 2,333 bottles, retailing at $1,000 apiece. Armand de Brignac, whose lineup also includes Brut Gold, Rosé, Blanc de Blancs and Demi Sec entries, is owned by rapper and entrepreneur Shawn “Jay-Z” Carter.

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