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.
Italian fashion house Roberto Cavalli is to dismiss about 200 employees, mostly at its Italian sites.
The company currently employs 437 employees in the country and 235 abroad. The company CEO explained that costs should be reduced in line with the actual revenues, shrank by 14% last year, and suffering from a significant drop in consumption. Investments aimed at relaunching the brand should also be implemented starting from 2018.
The restructuring plan involves the closure of the office and the creative division in Milan, whose operations will be moved to Sesto Fiorentino (near Florence) and the closure or relocation of several logistics centres, plants and some retail stores, including those in Venice and Florence. The sources report that a minor share of the total job cuts will also affect other sites abroad, for example in Madrid and Vienna.
Unions are holding assemblies in order to organise industrial actions. They complain that the last restructuring plan (see Roberto CavalliIT-2015) failed to increase competitiveness while imposing sacrifices on employees.
Negotiations between the management and workers’ representatives will be held over the coming weeks.
Update, 13 December 2016: The company and unions agreed a reduction of dismissals to 84 workers. The agreement also entails the closure of the headquarters in Milan.
Eurofound (2016), Roberto Cavalli, Relocation in Italy, factsheet number 88857, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/88857.
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