Significantly reduced sales are now causing the French luxury group LVMH to cut back on personnel in its wine and spirits division Moët Hennessy.
The newspaper Financial Times reports that ten percent of the employees, i.e. 1,200 people, will have to leave when reducing the workforce to the level of 2019.
During the first quarter of the year, sales decreased by nine percent, mainly due to weak development on the American and Chinese markets.
