Ermenegildo Zegna layoffs, on the record
Every job cut, severance charge and restructuring Ermenegildo Zegna reported in its annual reports, 2023 to 2025, quoted from the filings. Headcount went from 7,201 to 7,437.
Headcount, as reported
| Annual report | Employees | As of |
|---|---|---|
| 20-F for 2023 | 7,201 | December 31, 2023 |
| 20-F for 2024 | 7,395 | December 31, 2024 |
| 20-F for 2025 | 7,437 | December 31, 2025 |
Job cuts, severance and restructuring
Our summaryThe company recorded severance indemnities and provisions for severance expenses in 2023 within selling, general and administrative expenses, relating to the Zegna and Tom Ford Fashion segments.
Word for word“(2) Relates to severance indemnities of €4,002 thousand, €2,199 thousand and €8,996 thousand in 2023, 2022 and 2021, respectively.” 20-F for 2023
Our summaryThe filing reports severance indemnities and provisions for severance expenses recorded as an adjusting item in 2024.
Word for word“Relates to severance indemnities of €4,878 thousand, €4,002 thousand and €2,199 thousand in 2024, 2023 and 2022, respectively.” 20-F for 2024
Our summaryThe company reduced the size of its APAC organization within the ZEGNA segment because of the difficult macroeconomic environment, a net decrease of 40 employees in that segment.
Word for word“The main drivers of this increase are explained below by reference to the Group’s three operating segments: (i) a net increase of 46 employees in TOM FORD FASHION, reflecting the strengthening of its organizational structure, the internalization of certain roles in the Greater China Region and new hires in connection with the opening of new stores in the United States and in Hong Kong; (ii) a net increase of 36 employees in Thom Browne, primarily due to the expansion of the retail network and driven by the opening of new stores in the United States and Japan, in support of continued brand development in key strategic markets, and (iii) a net decrease of 40 employees in ZEGNA, primarily due to a resizing of the APAC organization in response to the challenging macroeconomic environment, partially offset by selective expansion of the ZEGNA retail network in EMEA and the United States, including new store openings in the Middle East and North America.” 20-F for 2025
Ermenegildo Zegna has filed no restructuring notice (Form 8-K, Item 2.05) since 2016. Companies file one only for a cut they judge material, so many announced layoffs never appear as one. This page shows what the company reported to the SEC, not news reports or state layoff notices.
Read from Ermenegildo Zegna’s annual reports (20-F for 2025, 20-F for 2024, 20-F for 2023) and the financial data it files with the SEC, as of 2026-03-20. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.