Italy Luxury Underwear Brand La Perla Suspends Layoffs

The Ministry of Economic Development announced on Tuesday that it is discussing the suspension of the 126 person layoff plan for the La Perla of luxury underwear manufacturer.
Italy's Ministry of economic development said in a statement: "La Perla and trade unions will meet again on Friday, hoping to find new safeguards quickly." The statement stated that the meeting will be held at the headquarters of La Perla in Bologna (Bologna).
La Perla has reached a pre - agreement 5 days ago to suspend the company's layoffs involving 126 people. Stefano Bonaccini, the regional head of the brand, wrote on Twitter: "La Perla conference, a pre agreement signed in the Emilie-Romagne area, announced the withdrawal of the 126 layoffs plan. This is the first major achievement in protecting employment and production. "
However, there is "technical difficulty" in the application of the pre agreement. The Ministry of labor said that they would "find the most appropriate means to help workers and companies overcome the crisis".
After the "difficult" 2017, La Perla began implementing a "restructuring strategy", including a layoff plan involving 126 people. This summer's announcement led to a general strike at the brand headquarters.
In order to enhance brand awareness and expand financing channels, La Perla was listed on the Paris European stock exchange's Pan European exchange growth market (Euronext Growth) in early September.
The long history of Italy underwear brand was founded by Ada Masotti in 1954. In 2013, as part of the bankruptcy proceedings, Pacific Global Management bought La Perla at the auction price of 69 million euros. In February 2018, the brand was acquired by Pacific Global Management from Sapinda Holding, a private equity firm in Holland.