pernod ricard is cutting costs and jobs because alcohol sales are down. the company makes jameson whisk-y, absolut vodka, and martell cognac.
they're splitting their brands into two groups - whiskeys/champagne/cognac in one, and other spirits in another. this will make things simpler and cheaper to run...
sales dropped 3% last quarter, mostly because martell cognac sales fell hard in china. even stockpiling in the us before trump's tariffs couldn't help much...
other big alcohol companies are doing the same thing. moet hennessy is cutting 1,200 jobs (13% of staff). diageo announced a $500 million cost-cutting plan and is looking to sell some brands!!
basically the whole industry is struggling because people are drinking less and worried about money.