WORLD
French pension protesters flood LVMH headquarters in Paris
French employees protesting pension reforms stormed the Paris headquarters of luxury giant LVMH (LVMH.PA) on Thursday, demanding that the wealthiest pay more for the state pension.
More than 100 protestors filled the luxury Avenue Montaigne building’s wood-panelled entrance hall and climbed an escalator to the top floors, while others marched outside brandishing Sud Rail banners.
“If you’re looking for money to finance pensions, take it from the pockets of billionaires,” said Sud Rail union representative Fabien Villedieu, calling the protest “symbolic and peaceful.”
Since mid-January, France’s labor unions have been striking and marching against President Emmanuel Macron’s retirement age increase. Trade unions called for further protests across France on Thursday, a day before the Constitutional Council’s verdict on the retirement age law.
To balance the pension budget in the future, the government thinks most workers must retire later. Unions insist money can be found elsewhere.
French protesters often chant and shout about LVMH’s rich Chairman and CEO Bernard Arnault.
Since the outbreak, LVMH’s shares have gained roughly 26%, making it Europe’s most valuable corporation.