Finance
Alexander McQueen fashion house to cut a third of Italy staff, unions say
Published by Global Banking & Finance Review®
Posted on January 28, 2026
2 min readLast updated: January 28, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on January 28, 2026
2 min readLast updated: January 28, 2026
Alexander McQueen plans to cut a third of its Italian workforce to reach break-even after a revenue drop, supported by Kering's strategic transformation efforts.
MILAN, Jan 28 (Reuters) - Luxury fashion house Alexander McQueen, owned by France's Kering, plans to cut about a third of its workforce in Italy in a restructuring aimed at reaching break-even after a 60% drop in revenue over the past three years, unions said on Wednesday.
The London‑based label last year confirmed job cuts in its UK office as part of a broader strategic review.
McQueen employs about 180 workers across its three Italian units, a union official told Reuters, warning that the restructuring could also have repercussions for the brand's Italian supply chain.
Union representatives, who met company management earlier this week, said McQueen described an emergency scenario marked by a sharp decline in sales volumes and units produced.
Union leaders are set to meet Kering CEO Luca De Meo on Feb. 5.
McQueen said in a statement to Reuters that is was "commencing a formal consultation process with unions in its Italian business."
"This is part of the group-wide effort to return the business to sustainable profitability over the next three years", it said.
Kering, which is also facing business headwinds, said in a statement that it "fully supports McQueen in its ongoing strategic transformation" and is confident the measures will strengthen McQueen's position in the global luxury market.
(Reporting by Elisa Anzolin, editing by Gavin Jones)
Workforce restructuring refers to the process of reorganizing a company's workforce to improve efficiency, reduce costs, or adapt to changing market conditions, often involving layoffs or changes in job roles.
Corporate strategy is a comprehensive plan that outlines how a company will achieve its goals and objectives, including decisions about resource allocation, market positioning, and competitive advantage.
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