Geox outlines restructuring and cost-saving plans in talks with unions and industry leaders
Italian footwear brand Geox recently convened a significant meeting with representatives from both trade unions and the Treviso branch of Confindustria, Italy’s influential manufacturing industry association. During this crucial discussion, Geox outlined a series of strategic initiatives it plans to implement, all aimed at effectively executing its overarching business plan and navigating the current market landscape.
Central to Geox’s proposed strategy is a comprehensive restructuring of its internal operating model. This fundamental shift is designed to enhance overall efficiency, bolster sustainability, and achieve critical optimization of fixed costs. Furthermore, the company aims to significantly improve its capacity to absorb overheads, thereby strengthening its financial resilience and operational agility in a competitive global market.
Beyond internal adjustments, Geox also revealed plans for a broader cost-reduction program. Preliminary analyses have indicated the necessity for such measures, which are expected to extend their reach to the company's facilities located abroad. Geox emphasized its intention to leverage all available means and regulatory provisions to ensure the effective and compliant implementation of this cost-saving strategy.
In a positive development following the initial presentation, all parties involved reached an agreement to continue their discussions. The shared objective of these ongoing deliberations is to forge mutually satisfactory solutions. These solutions are intended to achieve a dual purpose: ensuring the protection and well-being of Geox’s dedicated employees, while simultaneously enabling the company to maintain robust operations and thrive within today’s increasingly complex and challenging market environment.
