Pernod to cut 900 jobs

Pernod Ricard SA said it will cut about 900 jobs, or 5% of its global workforce,

the

Wall Street Journal

reported.

Profit for the fiscal year dropped 13%, chiefly because of declining sales in China, the article said.

Deputy chief excecutive Alexandre Ricard, who is expected to take over as CEO, said the company expects “a gradual improvement in sales,” the


Journal


article said.

In February, the company announced a plan to save $198 million over three years, the


Journal


report noted. (Source:


Wall Street Journal


, Aug. 29, 2014.)