Geox set to restructure and cut jobs

At a meeting with representatives of the trade unions and the Treviso branch of Italian manufacturing industry association Confindustria, Italian footwear brand Geox has presented “the initiatives it intends to deploy to help execute its business plan.”

In a press release, Geox said it is planning to “restructure the internal operating model, in order to improve efficiency and sustainability, optimise fixed costs and boost [the company’s] ability to absorb overheads.”

Geox also stated that, based on preliminary analyses, the group expects it will need to implement “a cost-reduction plan, involving also the company’s facilities abroad, utilising all the means put at its disposal by current regulations.”

In conclusion, Geox indicated that “the parties have agreed that discussions will continue, with the aim of reaching mutually satisfactory solutions that will both protect [the group’s] employees and enable Geox to continue to operate within a complex market context.”