By  on December 10, 2019

MILAN — It will be a dour Christmas for 700 Safilo employees.

The Italian eyewear group revealed its 2020-24 business plan on Tuesday evening, which identified approximately 700 redundancies next year in Italy, to “safeguard the Group’s competitiveness in favor of the workers who will remain in force.” Chief executive officer Angelo Trocchia said Safilo needs to reorganize its manufacturing footprint “by realigning its current capacity to our future production needs, thus safeguarding the group’s competitiveness and financial solidity for the long term. Despite the call for the emergence of alternative solutions, the new industrial plan ultimately impacts a significant number of people, for whom we will activate all the best possible and most responsible solutions, working closely with trade unions and workers’ representatives. With our economic and financial targets, we aim for Safilo to become a modern leader of the eyewear industry, a more balanced and profitable player across its markets, brands and product segments.” This follows another round of rationalization, as Safilo entered a layoff procedure for some 80 employees at its headquarters located in Padova, in the Veneto region, in September, and let go 80 employees at its plants in Longarone and Santa Maria di Sala last August.

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