Moët-Hennessy to cut workforce by more than 10%

<br><br>**Moët-Hennessy to Cut Workforce by Over 10% Amidst Slumping Sales**<br><br>LVMH's wine and spirits business, Moët-Hennessy, has announced plans to reduce its workforce by more than 10%, affecting around 1,200 employees. This move comes as the company grapples with a significant slump in sales, particularly in key US and Chinese markets.<br><br>According to reports from the Financial Times, CEO Jean-Jacques Guiony and his deputy Alexandre Arnault informed staff that they plan to return to 2019 levels, citing a need to adjust their organization and manage natural turnover. The announcement was made via an internal video message, but no specific timeline has been disclosed for the job cuts.<br><br>Moët-Hennessy's organic sales declined by 9% in the first quarter, hit by the slump in US and Chinese markets. This decline had a ripple effect on other sectors of the luxury goods empire, which includes brands such as Louis Vuitton and Moet & Chandon.<br><br>While the company has not publicly commented on the matter, industry experts speculate that the move may be an attempt to streamline operations and reduce costs in response to challenging market conditions. This development comes at a time when LVMH is facing increased competition from other luxury goods companies and shifting consumer preferences.<br><br>It's worth noting that Alexandre Arnault, who has ties to the Trump family, was assigned to help turn around Moët-Hennessy in November 2024. His task may now be more challenging due to the 20% reciprocal tariffs imposed by Trump on all European Union goods, which could impact the company's sales and profitability.<br><br>The decline of French wine and spirits sales in the US following Trump's tariff announcement is another challenge Moët-Hennessy faces. Last month, the French wine and spirits exporters group predicted a slide in sales due to the tariffs.<br><br>In this uncertain market landscape, it remains to be seen how Moët-Hennessy will navigate these challenges and adapt to changing consumer preferences.<br><br>Edits made<br><br>* Improved sentence structure and grammar for better readability<br>* Added transitions between paragraphs to improve flow and cohesion<br>* Changed tone from informal to professional<br>* Standardized formatting and punctuation throughout the post<br>* Made minor adjustments to wording and phrasing for clarity and concision
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