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French luxury group Moët Hennessy Louis Vuitton (LVMH) has announced its plan to hire 25,000 people under the age of 30 by 2022 to counter youth unemployment and skilled worker shortages.
In France alone, the group intends to hire 5,000 interns or apprentices as well as 2,500 permanent employees. LVMH also plans to increase intake at its Institut des Métiers d’Excellence, which has trained some 1,400 people in France, Switzerland, Italy, Spain, Germany and Japan since it was founded in 2014.
The program will see 339 new apprentices join this year, up from 150 in 2019, but the group continues to face issues with hiring enough specialised workers. LVMH reportedly hires 80% of graduates from the institute.
Chantal Gaemperle, Group Executive Vice President, Human Resources and Synergies, said: “The numbers are quite worrying because there is a shortage of talent in general on the market. It’s incredible, because there are people looking for work, and we have enormous difficulties recruiting in sectors such as retail, hospitality and leather goods, so it’s a question of survival.”
Source: Yahoo Finance