Reported about 10 hours ago
LVMH's Moet Hennessy plans to cut its workforce by more than 10%, equating to approximately 1,200 jobs, to return to 2019 staffing levels, following a 9% decline in organic sales in the first quarter due to weakened markets in the U.S. and China. The decision was revealed in an internal message from the division's CEO, with the exact timeline for the layoffs yet to be announced.
Source: YAHOO