Electrolux plans 1,700 layoffs and plant closure in Italy
The Swedish appliance maker intends to reduce its Italian workforce by over 40 percent and shutter its kitchen hood facility in Cerreto dEsi. Unions have called for strikes as the company struggles with high production costs and intense competition from Asian manufacturers.
ELECTROLUX AB-B will cut 1,700 jobs in Italy and close its Cerreto d'Esi plant, according to Italian trade unions. The reduction represents 40% of the workforce in Italy for the appliance maker from Sweden. Investors face a 75% decline in share price since 2021 amid rising production costs and Asian competition.
Electrolux runs five plants in Italy with 4,500 employees total. The kitchen hood-making facility in central Italy will shut down as part of a broader cost-cutting effort. UILM, FIM, and FIOM metalworkers unions stated that staff levels will decrease across all Italian plants.
