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Investing.com -- Italian spirits group, Davide Campari (LON:0ROY), announced on Thursday its plans for organizational restructuring. The group’s aim is to ensure its return to medium and long-term financial health.
The restructuring plans come as the company seeks to address changes in top-line performance and the impact of existing infrastructure investments on profitability.
Shares rose 2.1% in Milano.
Italian daily MF reported that the company is planning to reduce its workforce by approximately 10%, which would mean around 500 people. Campari, however, has not provided a specific global number, stating that the restructuring is a "wide and ongoing process".
The company is implementing a comprehensive set of initiatives to accelerate growth and profitability through focus, simplification, and cost containment. These measures have been previously announced by the company.
The restructuring process is part of Campari’s broader strategy to enhance its financial health.
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