Geox Implements Global Workforce Reductions Amid Financial Losses

Geox begins its restructuring. The Italian footwear company has announced global job cuts as part of its industrial plan to contain losses of €4.89 million recorded in the first half of the year.

Geox explained in a meeting together with the unions that the company plans to launch a series of initiatives to support the implementation of the industrial plan. These include the restructuring of the operating model to “improve efficiency and sustainability, with an optimization of fixed costs and a greater capacity to absorb them”.

In this sense, the company warns of the need to “implement a cost reduction plan that will also affect the structures abroad and that will be carried out by resorting to instruments made available by law”.

Geox initiates a plan that “will also affect its structures abroad”

Geox launches its industrial plan after closing the first half of the current financial year with losses of €4.89 million, considerably lower than those recorded in the same period last year of 15.45 million euros. That is, losses of 68.3%, compared to the same period of 2024.

The Italian footwear company sold 4.7% less in that period compared to the previous year. Thus, it recorded €305.3 million. However, it achieved a positive ebitda 11.61% higher, up to €32.45 million.