Treasury Wine cuts 170 jobs in restructure

• Treasury Wine Estates has laid off roughly 170 employees, representing nearly 7% of its total global workforce.
• The job cuts form part of a broader corporate cost-cutting campaign aimed at slashing $100 million in annual expenses.
• The company transitioned to a new four-region operating structure to simplify operations and narrow its brand focus.

Treasury Wine Estates (ASX:TWE) has made around 170 employees redundant across its global operations as part of a major cost-cutting initiative.

The organisation's shift replaces its former three-division structure with four geographic regions to streamline management.

"As part of our transformation to create a simpler and more focused organisation, approximately 170 roles have been made redundant, predominantly across our corporate functions," the company said in a statement.

The corporate overhaul also includes plans by executive leadership to shrink the current portfolio of roughly 75 wine brands by half.

Following the announcement, the Treasury Wine Estates share price was unchanged at $5.56.

The business is targeting a leaner operational setup while selectively recruiting for commercial roles across key growth areas in Australia, New Zealand, and China.

The structural modifications align with previously stated corporate goals to strip $100 million in annual costs from its underlying operations.