Pernod Ricard, the world's second-largest spirits company, wants to boost pastis sales in France by merging its two subsidiaries: Pernod and Ricard, which will result in internal restructuring and in reduction of 280 current job positions and creation of 90 new jobs. In total, 190 jobs will be lost by mid 2020. The group is facing a €60 million drop in revenues for the last two years in the pastis sells due to changes in consumer expectations towards more organic, artisanal and high-end products. The merger will bring together the sales teams of the two previously competing subsidiaries. Thus, a single Pernod Ricard France company will be set up as from 1 July 2020.