LVMH’s (LVMUY) Moet Hennessy will lay off 10% of its workers, the Financial Times reports. New executives at the wine and spirits business told staff that 1,200 jobs will be eliminated, warning that sales will no bounce back soon, the report says.
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Read More on LVMUY:
- LVMH downgraded to Neutral from Outperform at BNP Paribas Exane
- LVMH downgraded to Hold from Buy at HSBC
- LVMH’s Strategic Initiatives and Brand Strengths Signal Long-Term Growth Potential Despite Short-Term Challenges
- LVMH price target lowered to EUR 569 from EUR 650 at UBS
- LVMH price target lowered to EUR 610 from EUR 650 at JPMorgan
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