Latest news with #AlexandreRicard
Irish Independent
19-06-2025
- Business
- Irish Independent
Jameson owner Pernod Ricard says it's ‘committed' to Ireland amid global review
France's Pernod Ricard owns Irish Distillers, with Jameson being a leading global seller for the group. It also owns brands such as Absolut and Martell. 'Pernod Ricard announced a reorganisation project aimed at creating a more agile and simplified organisation aligned with our strategic objectives and the current evolution of our business,' said a spokesperson. 'Given that we have just begun this process, we are not in a position to comment any further at this stage,' they said. The spokesperson added: 'Jameson is a strategic brand for Pernod Ricard, and we remain committed to Ireland, the Irish whiskey category and the growth of our whiskey brands on the global stage.' Jameson looks set to retain a leading role in the company's high-profile portfolio. Pernod Ricard told staff this week that it has launched an "internal project to create a more agile and simplified organisation". It had already announced job cuts in China, where steep anti-dumping duties on its Martell cognac label have hit sales hard, as well as a plan to cut €1bn in costs by its 2029 financial year. In a staff memo, chief executive Alexandre Ricard said the project, dubbed 'Tomorrow 2', was intended to "further advance the simplification of our organisation". Mr Ricard told staff in a video that the restructuring, which includes bundling administrative tasks rather than having brands operate individually, would lead to "departures", two sources said. There were no further details about the impact on jobs. In the presentation slides, the company said it would organise its brands into two main units, named Gold and Crystal. ADVERTISEMENT The Gold division would include champagne and brands such as Martell cognac and Jameson, while Crystal will include Havana Club, Absolut vodka and some French aperitif brands. The company plans to implement the changes, including voluntary departures, in the last three months of 2025, the slides showed. "These changes imply the launch of local consultation processes with our social partners and employees where necessary," Pernod Ricard said, without commenting on the number of jobs affected or the plan to group brands into two units. Last month, the master distiller at Pernod Ricard's Irish Distillers unit, Kevin O'Gorman, said a new €250m distillery at Midleton in Co Cork won't now open until 2027. It had been expected to open this year. Last month rival LVMH's wines and spirits division announced plans to shrink its workforce by nearly 13pc. Pernod, Guinness maker Diageo and Remy Cointreau have also had to adjust their growth expectations as the boom in sales enjoyed after the Covid pandemic has gone into reverse. All three companies have scrapped or reduced ambitious sales targets for the coming years. Remy and other rivals, such as Jack Daniel's maker Brown-Forman have also cut jobs. Diageo, the world's largest spirits maker, also plans to cut $500m in costs and make substantial asset disposals by 2028.
Yahoo
19-06-2025
- Business
- Yahoo
Pernod Ricard launches reorganisation plan
Pernod Ricard has launched "an internal project" aimed at creating "a more agile and simplified organisation" at the Olmeca Tequila maker. Reports from Reuters yesterday (18 June) suggested the group was looking to streamline its operations. Internal company presentation slides viewed by the publication reportedly suggested Pernod Ricard plans to group its brands into two main divisions. When asked about its plans, the group told Just Drinks: "At Pernod Ricard, we work on an ongoing basis to adapt our organisation and ways of working to the fast-evolving business environment. "That is why we have announced to all our employees an internal project aimed to create a more agile and simplified organisation aligned with our strategic objectives and the current evolution of our business. "These changes imply the launch of local consultation processes with our social partners and employees where necessary, therefore we cannot comment any further at this stage'. It is unclear how many employees may be affected by the move. According to a staff memo, seen by Reuters, CEO Alexandre Ricard said the project, called Tomorrow 2, looks to "further advance the simplification of our organisation". Two sources also told the publication Ricard informed staff in a video the group's restructuring would bring about "departures". Several major distillers have been facing pressure on sales amid slowing demand in important markets including the US and China. Trade tensions have also weighed on consumer sentiment and shaken supply chains. In May, LVMH's Moët Hennessy also reportedly revealed plans to lay off thousands of its employees. Pernod Ricard's two new business divisions are allegedly called "Gold" and "Crystal", with the former including Champagne, and brands such as Martell Cognac and Jameson whiskey. The latter would feature Havana Club rum, Absolut vodka and French aperitifs. According to Reuters, the changes are expected to be brought into force in the last three months of this year. In its third-quarter results, released in April, Pernod Ricard booked €2.38bn ($2.7bn) in net sales, declining 3% on an organic and reported basis. Nine-month net sales dipped 4% organically and by 3% in reported terms to €8.5bn, hit by a €145m foreign-exchange impact. Volumes in the nine months were up 1%. In Pernod Ricard's third quarter, its net sales in the US were up 2%, although the company said organic net sales were "ahead of sell-out supported by wholesalers' orders ahead of tariff announcements". In China, net sales declined 5% and were down 22% in the first nine months of the financial year. At the time, the group said it was facing a 'macro context' that 'remains challenging'. Speaking after Pernod Ricard reported its third-quarter results, CFO Hélène de Tissot said the company expected China to weigh on its annual performance. 'For the fiscal year '25, the main impact of tariffs is China, which we are completely assessing. That's why we are confirming our ability and our confidence to sustain the operating margin," she said at the time. "Pernod Ricard launches reorganisation plan" was originally created and published by Just Drinks, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
CTV News
19-06-2025
- Business
- CTV News
Quebec residential construction strike comes to an end
A construction worker attaches a basket on a crane as they work on the rooftop of a residential apartment building in Levis, Que. on Tuesday, May 20, 2025. Residential construction workers were on strike. (Jacques Boissinot/The Canadian Press) The unions representing Quebec's residential construction workers have reached a tentative agreement with the Association des professionnels de la construction et de l'habitation du Québec (APCHQ), ending the strike. Workers had been on strike since May 28. The APCHQ said in a news release that all pressure tactics will stop at midnight. The five unions under the Alliance syndicale de la construction and the APCHQ will ask their members to vote on the agreement in the next two weeks. If it is rejected, the strike could resume. The agreement includes an eight per cent salary increase from the moment it is signed and arbitration for the following three years. It also includes increased travel expenses, a higher allowance for safety equipment, the creation of a committee to improve staff attraction and retention, and relaxed rules for employees with fewer than 1,500 hours under their belt. 'The large mobilization, the commitment of the members and the openness of the negotiating committee made it possible to finally reach a negotiated agreement,' said Alexandre Ricard, spokesperson for the union alliance. Of Quebec's four construction sectors (civil engineering, industrial, residential, and commercial) the residential sector was the only one that had not managed to renew its collective agreement, which expired April 30. The APCHQ said it took into consideration the sector's specific realities and households' ability to pay. 'With the tentative agreement, a degree of predictability will be in place, allowing employers and workers alike to contribute to the construction of thousands of homes that Quebec needs,' it said in a news release.
Yahoo
18-06-2025
- Business
- Yahoo
Pernod Ricard launches restructuring plan as spirits sales slide
By Tassilo Hummel and Emma Rumney PARIS/LONDON (Reuters) -Pernod Ricard is streamlining its business by grouping brands into two main divisions, according to internal presentation slides seen by Reuters on Wednesday, as European spirits makers grapple with a downturn in sales. Drinkers in key markets such as China and the United States have reduced spending in the face of inflation or other economic worries while international trade tariffs have also hurt sales. The world's No. 2 Western spirits maker from France told Reuters it had announced an "internal project to create a more agile and simplified organisation". It had already announced job cuts in China, where steep anti-dumping duties on Pernod's Martell cognac label have hit sales hard, as well as a plan to cut 1 billion euros ($1.15 billion) in costs by its 2029 financial year. In a staff memo reviewed by Reuters, Chief Executive Alexandre Ricard said the project, dubbed "Tomorrow 2", was intended to "further advance the simplification of our organisation". Ricard told staff in a video that the restructuring, which includes bundling administrative tasks rather than having brands operate individually, would lead to "departures", two sources said. There were no further details about the impact on jobs. In the presentation slides seen by Reuters, the company said it would organise its brands into two main units, named Gold and Crystal. The Gold division would include champagne and brands such as Martell cognac and Irish whiskey Jameson while Crystal will include Havana Club, Absolut vodka and some French aperitif brands. The company plans to implement the changes, including voluntary departures, in the last three months of 2025, the slides showed. "These changes imply the launch of local consultation processes with our social partners and employees where necessary," Pernod Ricard said without commenting on the number of jobs affected or the plan to group brands into two units. Last month rival LVMH's wines and spirits division announced plans to shrink its workforce by nearly 13%. Pernod, Diageo and Remy Cointreau have also had to adjust their growth expectations as the boom in sales enjoyed after the COVID-19 pandemic has gone into reverse. All three companies have scrapped or reduced ambitious sales targets for the coming years. Remy and other rivals, such as Jack Daniel's maker Brown-Forman, have also cut jobs. Diageo, the world's largest spirits maker, also plans to cut $500 million in costs and make substantial asset disposals by 2028. Pernod reported a 3% decline in third-quarter sales in April. Its shares have lost about 50% since the start of 2023 as sliding sales and tariffs have weighed on investor sentiment. ($1 = 0.8690 euros) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CTV News
04-06-2025
- Business
- CTV News
Quebec residential construction workers striking for ‘equal pay for equal work'
A construction worker attaches a basket on a crane as they work on the rooftop of a residential apartment building in Levis, Que. on Tuesday, May 20, 2025. Residential construction workers are on strike. (Jacques Boissinot/The Canadian Press) Nearly 1,000 workers from the Alliance syndicale de la construction demonstrated in front of the Association des professionnels de la construction et de l'habitation du Québec (APCHQ) offices to mark the first week of strikes in the residential sector Wednesday. The event was peaceful, with the slogan 'equal pay for equal work' illustrating their main demand: that the 60,000 residential construction workers receive the same wage increases as construction workers in other sectors, who have all already settled. The workers made themselves heard with trumpets, horns, percussion and music blaring from loudspeakers. Some of the signs had humorous tones, with slogans like 'if you don't want to pay me, don't make me saw' in French ('si tu veux pas me payer, fais-mois pas scier'). Many workers arrived from the regions by chartered bus; streets had to be closed and bus stops moved due to the size of the protest. After a week on strike, the workers did not seem discouraged. They gave a standing ovation to the spokesperson for the union alliance, Alexandre Ricard, president of FTQ-Construction. 'It's not true that we're going to be blamed for the increase in housing prices in recent years. There are several factors that make housing expensive today. We are just one factor. We're not the ones who caused these prices to rise,' said Ricard. 'I see lots of contractors attracting (residential) workers by offering them commercial conditions—proof that our demands are fair and reasonable," he told the protesters. It should be noted that, unlike in other sectors of the economy, construction workers do not receive a retroactive wage increase on the expiry date of the previous collective agreement when it is not renewed. They, therefore, lose money. Their agreement expired on April 30. APCHQ and Minister Boulet The APCHQ commented on the demonstration. 'As the critical date of July 1 approaches, the Association des professionnels de la construction et de l'habitation du Québec is growing impatient with the union alliance's inaction and hopes that the current negotiations will quickly lead to an agreement,' it said. Ricard responded in turn that, 'Yes, there are discussions at the table. But we need to move forward.' 'It makes no sense to drag this out, because we don't have the right to retroactivity. In the meantime, we are losing money. In the meantime, we also have no anti-strike-breaker law, which is totally unreasonable and also causes friction,' he said. The anti-strike-breaker provisions of the Labour Code do not apply to the construction industry. When questioned in Quebec City, Labour Minister Jean Boulet reiterated his offer to resort to arbitration. Under this process, an arbitrator, who is a neutral third party, determines the content of the collective agreement, thereby ending the labour dispute. However, both parties must agree to this. The APCHQ has said it is willing to accept, but not the Alliance syndicale, which wants to negotiate its own working conditions. Minister Boulet himself pointed out that several construction sites were still operating despite the strike. 'Workers can continue to work. Workers are at work,' he said. He noted that there had been 'incidents here and there where police intervention was required,' but the situation has calmed down. This report by The Canadian Press was first published in French June 4, 2025. Lia Lévesque, The Canadian Press
