Johnnie Walker Enacts Production Slowdown
So far in this economy, whisky has continued to thrive, boosted by growing sales in Asia. But the Glasgow Evening Times reports that spirits company Diageo will be giving around 650 workers at the Diageo Johnnie Walker packaging factory in Kilmarnock, Scotland a week off in March and a week off in April in order to halt production and save money. The workers will continue to be paid while production is halted. The plant is one of three operated in Scotland.
Earlier this month Diageo cut its profit forecast and announced a cost saving program. As Blogging Stocks mentioned, the company cut its full-year growth forecast to a range of four to six percent back from an earlier range of seven to nine percent amid fears that consumer confidence would continue to fall.
Gallery: Production Slowdowns