Milan, December 06, 2025
Yoox has achieved a significant reduction in redundancies in Italy following an agreement under the Italian Ministry of Enterprise and Made in Italy (MIMIT). The deal, finalized in December 2025, cut planned layoffs by 74%, aiming to cushion employees and limit social disruption during the company’s restructuring.
Substantial Reduction in Workforce Cuts
Yoox initially planned to lay off approximately 211 employees in Italy as part of a global workforce reduction targeting up to 700 jobs. These measures were linked to a strategic reorganization by its new owner, LuxExperience, focusing on centralizing functions and improving operational efficiency. Following negotiations within the MIMIT framework, planned redundancies were drastically reduced by nearly three-quarters, marking a major shift from the original proposals.
Involvement of Key Stakeholders
The agreed solution was reached after months of dialogue and intense negotiation involving Yoox management, trade unions, and Italian governmental institutions represented by MIMIT. This tripartite effort aimed to protect employment levels and ensure a responsible restructuring process. Following the agreement, individual consultation processes with affected employees are ongoing to manage the transition thoughtfully.
Context of Yoox’s Financial and Strategic Challenges
The agreement comes amid Yoox’s difficult financial situation, including a reported €191 million drop in revenue and over €2 billion in cumulative losses over the preceding two years. The company’s challenges necessitated a strategic overhaul to stabilize operations and maintain competitiveness within the luxury e-commerce sector. Catalyzing this restructuring, LuxExperience’s plan involves concentrating certain corporate functions and reevaluating workforce needs globally.
Measures to Mitigate Impact on Workers
Social protection measures formed a core part of the agreement, including incentives to encourage voluntary departures and social safety nets to support affected employees. This approach contrasts with more disruptive traditional collective redundancies, reflecting a preference for negotiated solutions that offer clearer support pathways for staff.
Official Endorsement of the Agreement
Minister Adolfo Urso of the Ministry of Enterprise and Made in Italy publicly acknowledged the deal as a significant victory for workers and a positive example of collaboration. He emphasized that the outcome serves as a model for balancing industrial revitalization with social responsibility through constructive dialogue between companies, labor organizations, and government bodies.
Implications for Industry and Corporate Restructuring
This agreement exemplifies how governmental frameworks and social dialogue can play a crucial role in mitigating the social costs of corporate restructurings during economic downturns or organizational changes. By reducing the scale of layoffs dramatically, the arrangement between Yoox and its stakeholders supports both the company’s industrial relaunch objectives and broader social cohesion goals within Italy’s luxury fashion and e-commerce sector.
The Yoox case highlights the potential of institutional involvement to facilitate fairer outcomes for workers while enabling businesses to adjust operations strategically in challenging market conditions. Ongoing consultations and the implementation of agreed measures will be key to maintaining stability during this transitional period for Yoox’s Italian workforce.