LVMH CEO Bernard Arnault Faces Criticism Over Euphemistic Term for Layoffs

Arnault described layoffs at Tiffany & Co. as employees being 'promoted outwards,' drawing parallels to Meta's recent staff cuts.

Bernard Arnault, CEO of luxury conglomerate LVMH, coined the phrase 'promoted outwards' to describe layoffs during an earnings call.
The term was used by Arnault to frame job cuts at Tiffany & Co., a brand acquired by LVMH in 2021, as a positive shift for affected employees.
Arnault cited a conversation with Meta CEO Mark Zuckerberg, who recently announced layoffs targeting low-performing staff, as inspiration for the phrase.
Critics have called the language out of touch, adding to a broader trend of corporate jargon used to soften the perception of layoffs.
LVMH has not specified how many employees will be impacted by the workforce reduction at Tiffany & Co., which Arnault described as a 'sleeping beauty' requiring revitalization.