Investing.com -- Moet Hennessy, the wine and spirits division of LVMH Group, is set to reduce its workforce by more than 10%, which equates to about 1,200 employees. This news was reported by the Financial TImes on Thursday and was sourced from an internal video message by the division’s CEO, Jean-Jacques Guiony.

Guiony, together with his deputy Alexandre Arnault, who is also the son of LVMH owner Bernard Arnault, informed Moet Hennessy staff earlier this week about the intended workforce reduction. According to them, the objective is to bring staffing levels back to those of 2019. The timeline for these job cuts, however, remains unclear.

LVMH indicated that while Moet Hennessy’s business has returned to its 2019 level, the company announced its plan to adjust its organization and gradually revert to its 2019 staffing levels. The primary strategy for this would be managing its natural turnover and refraining from filling vacant positions.

Alexandre Arnaultn was given the responsibility to help revitalize the group’s wine and spirits business in November 2024. This task could become more challenging due to the 20% reciprocal tariffs imposed by Trump on all European Union goods, which could potentially affect the company.

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