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

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

Government spokesperson Sophie Primas replied saying that 'everybody must do their bit,' although she conceded that she understood his 'anger.'

He’s someone Trump really looks up to and wants to make happy,” a source said of LVMH CEO Bernard Arnault, the wealthiest man in France.

Bernard Arnault, the billionaire chairman of luxury goods giant LVMH, has voiced his dissatisfaction with France’s economic direction. The 75-year-old,

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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.

Bernard Arnault is outpacing Elon Musk and Mark Zuckerberg in wealth gain this year after signs of a rebound in luxury demand boosted LVMH stock.

LVMH’s sales of fashion and leather goods declined in the fourth quarter, casting doubt on the prospects for a quick recovery in luxury demand. Read more at The Business Times.

LVMH acquired Tiffany about four years ago for US$16 billion. The LVMH chairman said Tiffany has laid off some employees because they haven’t been willing to meet higher sales targets.

With the economic outlook in France looking grim, Arnault said LVMH, which owns Louis Vuitton, Dior, Fendi and Moët & Chandon, is "seriously" considering opening more factories in the United States. Such a move would help the company to avoid the tariffs Trump has promised to enact on foreign goods sold in the United States.