Monday, 5 May, 2025
The Drinks Business, Sophie Arundel
Moët Hennessy will cut more than 10% of its global workforce as part of a major restructuring effort to counter falling sales and rising costs, according to a report by the Financial Times.
The wine and spirits arm of luxury giant LVMH currently employs around 9,400 people. Chief executive Jean-Jacques Guiony told staff this week that roughly 1,200 roles would be eliminated, bringing the division back to its 2019 staffing levels.
Revenues at Moët Hennessy have fallen to 2019 levels, Guiony said, yet operating costs have jumped 35% over the same period. “This was an organisation that was built for a much larger size of business,” he said in an internal video seen by the FT. “People realise … that this [rebuilding sales] is not going to happen anytime soon.”
To read the full article, click HERE.