Bernard Arnault said he spoke with Mark Zuckerberg about Meta layoffs, which the LVMH boss described as workers being "promoted outwards."

Arnault announced that world-famous jewelers Tiffany & Co will be laying off or “promoting outwards” underperforming workers.

Following Meta’s layoffs earlier this month, Arnault, the head of the luxury goods conglomerate that controls brands like Louis Vuitton, Fendi, and Sephora, likened Meta CEO Mark Zuckerberg’s move to let go of low-performing workers to layoffs at Tiffany’s.

LVMH CEO Bernard Arnault compared layoffs at Tiffany & Co. to job cuts at Meta, drawing a parallel between the two companies. Arnault revealed that he had discussed Meta’s decision to let go of low-performing employees with Mark Zuckerberg last week,

Bernard Arnault, in an LVMH earnings call, used a bizarre new term for tech layoffs when referencing a conversation with Meta's Mark Zuckerberg.

Luxury giant LVMH is "seriously considering" bulking up its production capacities in the United States, CEO Bernard Arnault said on Tuesday, praising a "wind of optimism" in the country that contrasted with the "cold shower" of potentially higher corporate taxes in France.

Arnault, the billionaire CEO of the luxury conglomerate, had criticized proposed French tax hikes earlier this week.

"It's clear that we are being strongly pushed by the American authorities to continue to build out our presence," Bernard Arnault told reporters.

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