Aerosoles parent company to lay off 100 workers
02/02/2012
Last year, multinational group Tata bought a controlling stake in Move On, manufacturer of the Aerosoles brand of shoes. An insolvency event at previous parent company Investvar in July 2010 led to the government there, in conjunction with the five biggest Portuguese banks, taking the firm into state ownership.
Since Tata became involved, production has taken place at the company’s factory at Esmoriz in northern Portugal and at a factory in India. In an announcement at the end of January, Move On said it had decided to consolidate its Portuguese operations and focus exclusively on using its facility at Esmoriz to create new designs, manufacture samples for new collections and very small production runs of its highest-value models. It said it saw this as the best way to guarantee a future for the business and to give it “a cost-structure that is in keeping with the present state of the market”.
In a statement, Move On said it had communicated its decision to its workforce and committed itself to making the process of laying off some of its employees as quick as possible.
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