Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Geox has initiated restructuring procedures affecting 110-150 positions, representing 15-20% of its 750-person global workforce. CEO announced the workforce reduction during meetings with trade unions and Confindustria Veneto Est, emphasizing all departures will be voluntary rather than unilateral dismissals. Geox management confirmed ongoing discussions with unions through year-end to finalize voluntary exit modalities and evaluate social safety net activation, including potential unemployment benefits, solidarity contracts, and incentive bonuses to minimize workforce impact during the competitive market transition.
The footwear company reported first-half 2025 revenues of €305.3 million, declining 4.7% year-over-year, though excluding Chinese and US subsidiary closures, the decrease was limited to 1.9%. Despite improved operational margins, Di Giovanni indicated sustainable financial equilibrium is not expected before 2026.
The voluntary departure program will affect all departments across markets including Montebelluna headquarters, spanning various roles from management to operations, excluding retail positions.
**Update, 01/10/2025: ** Geox has reached an agreement with trade unions to manage 130 redundancies at its Montebelluna headquarters through voluntary departure incentives and solidarity contracts. The restructuring affects 130 of 500 employees at the central office as part of broader reorganization targeting 30% cost reduction.
The agreement, approved by employee assemblies, offers voluntary departure incentives scaled to seniority, potentially reaching one year's salary for longest-serving staff. Employees over 45 choosing voluntary exit will receive outplacement services through specialized agencies for requalification and career reorientation. Remaining workers will access solidarity contracts with terms depending on voluntary departure numbers.
Both company and unions expressed satisfaction with the balanced solution.
Eurofound (2025), Geox, Internal restructuring in Italy, factsheet number 203305, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/203305.