Yoox, 211 redundancies between Milan and Bologna. 20% of Italian employees at risk

A cut in the workforce in response to falling revenues in the last financial year (-191 million) and the accumulation of total losses of more than two billion euros over the past two years. So Yoox Net à Porter, the ecommerce giant born in 2015 from the merger of the Italian Yoox and the British Net-à-porter and from May 2025 owned by LuxExperience (formerly Mytheresa), has announced 211 redundancies out of 1,091 employees located in Italy, particularly in the Bologna (160 people) and Milan offices, the historic hubs of the Yoox platform, founded by Federico Marchetti in the early 2000s.

A decision released on 2 September that, in a relaunch context, was greeted by employees as a cold shower. Filcams, Fisascat and Uiltucs - the trade unions of CGIL, CISL and UIL - demanded the immediate withdrawal of the procedure and the opening of a round table, emphasising that 'the company has not fulfilled its legal obligations regarding prior communication of the state of crisis'.

The trade unions also pointed out that 'the company has also announced that it does not want to use social shock absorbers, describing the redundancies as structural and definitive. It is unacceptable that, a few months after the takeover by LuxExperience, the company chooses to offload onto the workers the burden of a restructuring decided solely on the basis of the strategies of the new group'.

In addition to the 211 redundancies, there are 40 transfers from Landriano (Pavia) to Milan, which, according to the unions, must 'immediately involve the competent institutions, including the Ministry of Labour and the Regions concerned. We will not allow an industrial reality historically rooted in the territories of Bologna and Milan to be dismantled, with very serious social and employment consequences'.

Nyse-listed LuxExperience Group yesterday released a note in which it announced 'measures as part of its transformation plan to restore growth and financial strength to Ynap's business after years of decline', stating that the planned consolidation 'will result in a partial reduction of the workforce in several locations and could affect approximately 700 employees in Italy, the UK, the US and other jurisdictions'. The note specifies that 'Italy will remain a long-term operational hub for LuxExperience and the headquarters of off-price pioneer Yoox' and that 'the teams of the different brands are key factors in the return to growth and financial strength'. The group's stated goal would be EUR 4 billion in value of merchandise sold by 2029.