US: Beam Global Spirits & Wine cuts jobs in restructure

Beam Global Spirits & Wine, the division of Fortune Brands, is making "modest" job cuts as part of its worldwide restructuring initiative announced this week, just-drinks can confirm.

Beam Global is to cut staff numbers as it looks to reorganise its business into six defined units.

"The organisational changes announced earlier this week will result in better ways of working and a modest net reduction in the number of positions over the next several weeks, as some positions are eliminated and new positions are filled to enhance capabilities in certain areas," a spokesperson for Fortune Brands confirmed to just-drinks today (23 October).

The spokesperson declined to specify the number of jobs being cut, but added: "All individuals impacted by this week's announcement have been notified."

Beam Global said this week that it would split its business into three product divisions in the US and three geographical areas internationally - Europe, Asia-pacific, Rest of World and duty-free.

"This is not first and foremost about reducing headcount - it is about building a sharply focused organisation that is simper, smarter, faster, and best set up to win in the marketplace," said the company spokesperson.

The group, which owns brands such as Jim Beam Bourbon, Canadian Club, Sauza Tequila and Courvoisier Cognac, employs around 3,000 people worldwide.

Earlier today, Beam Global reported spirits sales in the three months to the end of September, the group's third fiscal quarter, as flat against the same period a year before.

Operating profits for Beam are expected to be flat for the full-year, said Fortune Brands chief financial officer Craig Omtvedt in the group's results conference call. He added that Beam is "ramping up" brand investment in the fourth quarter.