LVMH, a major French fashion house, has joined a growing number of blue-chip French corporations that have announced incentives for workers to assist them cope with inflationary pressures.
LVMH has announced that 27,000 of its French employees are eligible to receive a bonus of €1,000 to €1,500 ($973.50 to $1,460).
As prices climb across Europe, several companies have announced wage increases this month, including Air France, Stellantis, and others.
Russian’s invasion of Ukraine has caused havoc in the global energy market, leading to higher prices.
According to French Finance Minister Bruno Le Maire, inflation in France is predicted to fall to 4.2% in 2023 from 5.3% this year.
