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The LVMH group has announced plans to reduce the number of jobs at its wine and spirits subsidiary Moët Hennessy. Over ten percent of the workforce will be affected, which corresponds to about 1,000 to 1,200 positions.
According to news agency AFP, Moët Hennessy CEO Jean-Jacques Guiony and Deputy General Director Alexandre Arnault informed employees last Wednesday during a video conference about the plans.
Moët Hennessy confirmed that it aims to "gradually return to the staffing levels of 2019" – through turnover and not filling open positions. However, the company did not provide specific numbers. A classic social plan is currently not planned.
The reason for the decision is the declining revenue in the wine and spirits sector. LVMH reported a revenue decline of eleven percent to 5.9 billion euros for the year 2024. The decline particularly affects Moët Hennessy, whose figures also do not look rosy in the first quarter of 2025. The company recorded a decrease of eight percent in the first three months of the year.
The revenue losses occur in a tense global environment characterized by trade conflicts with China and the USA. In 2024, 34 percent of the revenue from wine and spirits came from the USA, where champagne and cognac are primarily sold. Both products are increasingly under pressure from Trump's tariff policy.
Moët Hennessy includes renowned champagne houses such as Moët & Chandon, Dom Pérignon, Veuve Clicquot, and Krug. It also includes famous wineries like Château d’Yquem (Sauternes) and Domaine des Lambrays (Côte de Nuits), as well as well-known spirits brands like Hennessy, Glenmorangie, Ardbeg, and Belvedere.
(ru / La revue du vin de France, AFP)
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