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.
Yoox has announced 211 redundancies affecting 1,091 Italian employees, with 160 positions cut in Bologna and additional reductions in Milan. The e-commerce giant, owned by LuxExperience since May 2025, cited revenue decline of €191 million and cumulative losses exceeding €2 billion over two years as reasons for the restructuring.
Trade unions Filcams, Fisascat, and Uiltucs have demanded immediate withdrawal of the dismissal procedure, criticizing the company for failing to comply with legal obligations regarding advance crisis communications. The unions noted that Yoox Net-à-Porter refuses to use social safety nets, classifying redundancies as structural and definitive.
Additionally, 40 employees face transfer from Landriano (Pavia) to Milan. Union representatives condemned the decision to burden workers with restructuring costs just months after LuxExperience's acquisition, calling for institutional involvement from the Labor Ministry and affected regions.
**Update, 02/10/2025: ** Yoox has suspended collective dismissal procedures affecting 211 employees with immediate effect to pursue shared solutions with trade unions. The announcement came from the Ministry of Enterprise and Made in Italy. Minister praised Yoox's responsiveness and openness to negotiation, emphasizing collaboration between institutions, unions, and company to achieve concrete results. The minister expressed confidence the new approach will lead to acceptable solutions for all parties. A follow-up meeting at the Ministry is scheduled for November 18 to review outcomes from the consultation cycle. The suspension prevents immediate job losses while providing time for stakeholders to develop alternative solutions addressing both worker concerns and company restructuring needs.
**Update, 03/11/2025: ** LuxExperience has sold The Outnet off-price fashion platform to New York-based luxury marketing agency The O Group LLC for $30 million while maintaining collective dismissal procedures affecting 211 employees in Milan and Bologna. Trade unions Filcams CGIL, Fisascat CISL, and Uiltucs condemned the transaction as unacceptable and disrespectful toward workers enduring months of uncertainty.
CEO's statement describing the sale as "useful for creating the lean operating model necessary for Yoox to recover growth and financial stability" and to "accelerate overall transformation, obtaining an efficient platform for Net-a-Porter and Mr Porter" provoked union outrage as additional affront to employees maintaining professionalism amid profound reorganization.
The sale contradicts commitments made at the Ministry of Enterprise crisis table following strike days and permanent headquarters protest, where agreement suspended collective dismissal procedures with commitments to identify shared solutions through October-November consultations. Unions reiterated urgent demands for immediate social safety net activation and all possible measures to reduce the reorganization's employment impact.
Filcams CGIL, Fisascat CISL, and Uiltucs will request Ministry urgently convene new meetings beyond the currently scheduled November 18 date, evaluating all necessary actions defending employment and worker dignity.
Eurofound (2025), Yoox, Merger/Acquisition in Italy, factsheet number 203277, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/203277.
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