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Natuzzi presents plan for reorganization of Italian operations

Natuzzi S.p.A. announced that the company presented to the Italian national and local unions in Rome its business plan for the reorganization of the Group’s operations in Italy. The plan seeks to return the company to profitability and to establish the basis for its future growth, safeguarding, to the extent possible, employment levels in the Puglia and Basilicata regions, the company said. The strategic guidelines of the plan provide, on the one hand, for the alignment of the company’s current operations with market demands and, on the other hand, for improvements to its competitiveness, which will be carried out through large investments in product and process innovations, marketing and communications, and the development of Natuzzi Italia points of sale worldwide. The strategic guidelines of the plan call for a total investment of more than EUR190M. The plan calls for the reorganization of the Italian operations of the group that will involve a total of 1,726 employees for whom the company is forced to implement a layoff program in light of the expiration of the Cassa Integrazione Straordinaria, scheduled for October.