LVMH downsizes

The LVMH LVMH (Louis Vuitton Moët Hennessy) has confirmed a measure to reduce its payroll by 10% within its Moët Hennessy wines and spirits division. This announcement, transmitted internally to the teams, follows a year 2024 marked by a significant drop in sales in this activity. The decision comes against a backdrop of transformations in the international cognac and champagne markets. The stated objective is to return to a workforce level comparable to that of 2019. According to estimates from several industry publications, this reduction could involve around 1,000 to 1,200 positions over the next few years. This is not a redundancy plan. The Group specifies that the reduction in payroll will be achieved mainly through the non-replacement of natural departures and rotation management. The positions concerned will be spread across the division’s 29 houses, including Moët & Chandon, Veuve Clicquot, Krug, Château d’Yquem and Hennessy.