In parallel to the start of the Milan Fashion Week, another round of talks between the unions and the Italian shoe manufacturer Geox will take place next week. In the room there is a job cut of around 15 percent of the 750 employees worldwide. The approximately 500 employees in the corporate center in Montebelluna are also affected, as the Venetian edition of the Corriere della Sera reported.
The first meeting between Geox, the unions and conflicts of disposation took place on September 10th. The company listed at the Euronext Milan presented measures to support the implementation of the business plan approved on December 19, 2024. This provides for a restructuring of the internal operating model with the aim of increasing efficiency and sustainability and optimizing fixed costs.
“Based on the preliminary analyzes of management, it is necessary to implement a plan for reducing costs that also includes the structures abroad,” said Geox in a message. The plan is to be implemented with the help of the legal instruments.
The unions also signaled willingness to talk: “It is a process that we want to control to achieve an agreement that has as few effects as possible. In any case, we want to understand where the business plan leads and the way we will take.”
The details of the restructuring plan will be drawn up in the coming days under the direction of the new CEO Francesco di Giovanni, who succeeded Enrico Mistron at the end of July. The appointment is considered part of a accelerated transformation process that is intended to prepare the company for the challenges of 2025 and 2026.
In the first half of 2025, Geox recorded a decline in sales of 15 million euros (-4.7 percent) compared to the same period last year. Adjusted for the effects of the branch closings in China and the USA, the minus is 6.1 million euros (-1.9 percent).
Regardless of this, Geox will present his new collections for spring/summer 2026 in Milan on September 25th.
This article was used with digital tools translated.
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