Bernard Arnault, in an LVMH earnings call, used a bizarre new term for tech layoffs when referencing a conversation with Meta's Mark Zuckerberg.

Losing your livelihood is now doubleplusgood! Bernard Arnault, CEO of LVMH and the world’s fifth richest man, has coined a new phrase for those who are being laid off — “being promoted outwards, so to speak.

Following Meta’s layoffs earlier this month, Arnault, the head of the luxury goods conglomerate that controls brands like Louis Vuitton, Fendi, and Sephora, likened Meta CEO Mark Zuckerberg’s move to let go of low-performing workers to layoffs at Tiffany’s.

Bernard Arnault said he spoke with Mark Zuckerberg about Meta layoffs, which the LVMH boss described as workers being "promoted outwards."

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Luxury magnate Bernard Arnault has gotten almost $1 billion a day richer so far in 2025.Tefano Rellandini/Getty Images Bernard Arnault has gained more wealth in 2025 than anyone else, including ...

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"It's clear that we are being strongly pushed by the American authorities to continue to build out our presence," Bernard Arnault told reporters.

By Tassilo Hummel, Mimosa Spencer PARIS (Reuters) -Luxury giant LVMH is "seriously considering" bulking up its production capacities in the United States, CEO Bernard Arnault said on Tuesday, praising a "wind of optimism" in the country that contrasted with the "cold shower" of potentially higher corporate taxes in France.

LVMH Chairman Bernard Arnault said sales at Tiffany & Co. increased in the most recent quarter and the jeweler has become more profitable since it was bought by the luxury French conglomerate.