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LVMH limits teleworking for Tiffany employees

LVMH limits teleworking for Tiffany employees

The global group LVMH recently asked certain employees of Tiffany&Co to return to work in the office on March 1, a source close to the company told AFP on Friday. LVMH did not wish to comment.

 

The request, which was recently sent to employees in an internal memo, was first disclosed by the Wall Street Journal and concerns people working at the group’s headquarters in New York and at its sites in New Jersey.

 

Specifically, Tiffany’s administrative staff will be required to be present at its premises two days a week, in compliance with health regulations. This directive already applies to the employees of the other subsidiaries of the luxury group in the country since September.

 

LVMH believes that it is necessary to impose this directive on an equal footing and that Tiffany employees must abide by it. The objective is to establish a corporate culture at a time when the group is undergoing a major transition, depending on the source. 

 

Indeed, for the record, the Tiffany buyout was finalized in early January for $15.8 billion, but not without difficulties. The process took some time, in particular because of the disagreement over the amount of the transaction between the two companies.

 

To date, the employees of the jewelry stores have already returned to their jobs in order to satisfy the customers of the flagship store on 5th Avenue in New York. Customers can now make their purchases by appointment.

 

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However, a large majority of the company’s employees continue to work from home.

 

In fact, only 14% of New York’s more than one million employees were working from their offices in mid-January, according to Kastle Systems, a company specializing in office security.

 

Lire aussi > BUSINESS : TIFFANY SHAREHOLDERS APPROVE THE BUYBACK PROPOSAL MADE BY LVMH

 

Photo à la Une : © Presse

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