Is diageo an organisation or charity that helps others?
LONDON (Dow Jones)–Global drinks giant Diageo PLC (DEO) Wednesday extended its global cost-cutting program, identifying further savings in its Scottish business, where it plans to close a number of plants and cut 11% of its workforce. The maker of Johnnie Walker scotch, Guinness stout and Smirnoff vodka said that the closure of a packaging plant, a distillery and a cooperage in Scotland would save GBP40 million a year from 2012. The cost of maturing its whisky stocks will also be cut by GBP10 million a year, though this won’t be realized until the stock is sold in future years. The plans will result in the loss of 900 of Diageo’s 4,500 Scottish workforce, though a further 400 new jobs will be created with the expansion of a packaging plant. Diageo said there would be no compulsory redundancies for at least 12 months. Sources: http://online.wsj.com/article/BT-CO-20090701-703707.
A registered charity with its own board of trustees, the Diageo Foundation’s aim is to create positive, long-term change in the community. It focuses on areas of humanitarian need, primarily in developing countries in Africa, Latin America, Asia and Eastern Europe, where it can make the most difference. The Foundation provides kick-start funding and expertise in establishing local projects, some of which are run in partnership with our local businesses. The Foundation makes charitable donations, matches employee fundraising in the UK and provides longer-term social investment in areas where we can make the most difference. To comply with UK charity law, grants and donations made from the Diageo Foundation must be for charitable purposes, i.e. the relief of poverty, or the advancement of education. How to apply for funding from the Diageo Foundation To be eligible for funding from the Diageo Foundation, projects must fall within one of the four key focus areas: Skills for Life, Water of
Diageo plc (LSE: DGE, NYSE: DEO) is the largest multinational beer, wine and spirits company in the world.[1] The company is listed on the London Stock Exchange and has American Depositary Receipts listed on the New York Stock Exchange. The word Diageo was formed from the Latin dia (day) and the Greek geo (World), symbolising the use of the company’s brands every day, everywhere.[2] It is a constituent of the FTSE 100 Index. Sources: http://en.wikipedia.
