Bernard Arnault, CEO of LVMH, discussed recent layoffs at Tiffany & Co. during an earnings call, drawing a comparison to similar cuts at Meta. In a conversation with Mark Zuckerberg, Arnault called the layoffs at Meta a form of "promoting outwards" for low-performing staff. He mentioned that Tiffany needed to make cuts to move forward after its acquisition by LVMH, describing it as a "sleeping beauty" needing to awaken. Arnault suggested that not all workers could adapt to the demands of rapidly evolving growth expectations. His comments reflect a broader trend in corporate communications around layoffs.
Arnault said those workers were being "promoted outwards, so to speak" when discussing job cuts at Tiffany and parallels to Meta's layoffs.
We didn't have a choice. At Tiffany, we had to let go some people. Unfortunately, we were not able to keep everyone.
When you're used to sleeping for 10 years, and you're all of a sudden asked to become fierce, and when you're expected to achieve high objectives, some people can't.
Meta's recent layoffs were referred to as "non-regrettable attrition" by a director, reflecting a trend in corporate language around job cuts.
Collection
[
|
...
]