Campagnolo Crisis: Layoffs and Millions in Losses – The Whole Truth

Campagnolo Crisis: Layoffs and Millions in Losses – The Whole Truth

Campagnolo, the historic Vicenza-based company specializing in the production of high-end cycling components, is facing a structural crisis that has led to the announcement of a plan for 120 redundancies out of a total of 300 employees, a reduction equal to 40% of the workforce.

The company has officially stated that the decision is indispensable, asserting that "there is no alternative" except with "dramatic consequences for the company and for the city of Vicenza." The plan, approved by the Board of Directors, is presented as the only way for a "very important rethinking of costs, at all levels," and to ensure the continuation of production activity at the Veneto site, albeit reduced.

Economic Context and Losses

Campagnolo justified the measure with severe financial difficulties. Balance sheet data up to May 31, 2025, reveals that the accumulated loss in the financial years 2023, 2024, and 2025 exceeds 24 million euros. The company attributes the losses to a "truly burdensome sector situation" affecting the global cycling market.

Despite the shareholder having subscribed to a 10 million euro financing between November 2024 and December 2025, the management stated that current liquidity cannot ensure business continuity under the present labor cost conditions. The 40% reduction in labor cost is presented as a central element, together with a product development plan, to reverse the trend.

The post-Covid boom period in the bicycle market had misled the company, prompting it to hire about fifty new people, recruitments now deemed excessive given the subsequent sharp market contraction.

Union Reactions and Concerns

The Fim Cisl and Fiom Cgil trade union organizations have expressed deep concern over the extent of the redundancies and the future of the production site.

Main Concern: The 40% staff reduction significantly impacts the company structure, which has a higher number of administrative staff than factory workers.

Fears: The unions fear that the rationalization plan may also include the relocation of part of the production to other areas, further compromising the role of the Vicenza plant.

Industrial Plan: The absence of a clear and complete industrial plan outlining the company's revival strategy beyond cost cutting is being criticized. The unions emphasize that the crisis is not only due to the current economic situation but also to past entrepreneurial choices, such as abandoning entry-level groups and a lack of presence in growing segments like MTB and e-bikes.

Assemblies with the workers are scheduled for the coming days to define actions to oppose the layoff plan.