Yoox redundancies significantly reduced following MIMIT agreement

The collective redundancy procedure affecting Yoox employees has been withdrawn after an agreement reached at Italy’s Ministry of Enterprise and Made in Italy (MIMIT), substantially lowering the number of job losses.

The settlement has reduced the planned structural redundancies by approximately 70 positions, marking a major improvement over the initial proposal. The agreement also establishes a non-traumatic transition for affected employees, utilising social safety nets and voluntary redundancy incentives.

Senator Adolfo Urso, Minister for Enterprise and Made in Italy, described the outcome as a significant victory for Yoox employees: “This result reflects months of sustained dialogue with social partners. It shows that the MIMIT’s approach—grounded in genuine discussion and shared solutions—is effective in both protecting jobs and supporting industrial development.”

The agreement, forged through intensive negotiations between the company, trade unions, and institutional representatives, is now subject to employee approval. “All parties are focused on ensuring a full revival of the company’s production and commercial activities,” MIMIT confirmed.

LuxExperience, owner of the Yoox brand, emphasised its commitment to responsible solutions that minimise social impact. Individual consultations with employees affected by the agreement will begin shortly.

The company also reaffirmed its long-term commitment to Italy, a strategic operational hub and the home of Yoox, a pioneer in off-price luxury. LuxExperience highlighted its goal of maintaining a key role as an employer in the country, with positive effects on employment over the medium to long term.

The collective redundancy procedure had been initially announced to unions in September. LuxExperience, the Munich-based luxury group that also owns Mytheresa and Yoox Net-a-Porter, had updated its efficiency plan following the acquisition of YNAP in April 2025.