Campagnolo said Tuesday it has reached a deal with trade unions, clearly ruling out any form of layoffs, following months of reports that the Italian components maker was preparing deep cuts at its Vicenza headquarters.
In a statement, the company said the outcome followed a formal agreement process with unions and social partners, including an internal company-wide vote in which it said 77% of employees backed the plan.
Campagnolo faces major layoffs as financial pressures deepen
Iconic Italian brand prepares to cut 40% of Vicenza workforce amid multi-year losses.
Alex Hunt
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