French fashion giant LVMH announces bonus payment to help staff tackle inflation pressures

An exhibitor wears a LVMH t-shirt at their booth, at the Viva Technology conference dedicated to innovation and startups, at the Porte de Versailles exhibition center in Paris, France June 17, 2022. REUTERS/Benoit Tessier/File Photo

PARIS, Sept 29 (Reuters) - French fashion giant LVMH (LVMH.PA) announced a bonus payment for staff to help them cope with inflationary pressures, joining a growing list of blue-chip French companies which have announced similar bonuses for workers.

LVMH said 27,000 of its staff in France would be able to qualify for this bonus, which would range from 1,000-1,500 euros ($973.50-$1,460).

Earlier this month, Air France (AIRF.PA) and Stellantis also announced similar bonuses for workers, as inflation rises across Europe.

Russia's invasion of Ukraine has disrupted world energy markets, and this in turn has contributed to rising inflation.

French Finance Minister Bruno Le Maire said this month that inflation in France was expected to ease back to 4.2% on average for 2023, from 5.3% this year. read more

($1 = 1.0272 euros)

Reporting by Mimosa Spencer; Editing by Sudip Kar-Gupta

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