Company detailsCode: ArmaniCompany name: Giorgio ArmaniCompany country: ItalyGroup home country: ItalyNumber of employees: 6500Sector: C - ManufacturingSector detail: C14 - Manufacture of wearing apparel Reshoring detailsReshoring announcement date: 26/02/2016Starting implementation date: March, 2016Reshored to: ItalyLocation of affected unit(s): MilanoLocation code: ITC45Reshored business function: FinancialPartial or Total reshoring: PartialReshoring governance mode: In house (in own facilities)Estimated job gains: 60Reasons for reshoring: Changes in taxationLabour costsCase narrative: Armani is shutting down the Giorgio Armani Swiss Branch, after 20 years. The company intends to relocate most of its employees to its Milan site; however this is a conditional offer and employees are required to accept a reduced salary (from €4,000 to €1,500). The Swiss site in Mendrisio is going to keep 10 employees, while 40 are going to be laid off, according to the latest news. However, Armani's medium term plan is to fully close the Mendrisio site. Armani opened an administrative center in Mendriso (Switzerland) twenty years ago. Despite higher salaries than in the home country, Mendrisio has attracted fashion companies due to fiscal advantages. Recent changes in the local taxation has greatly reduced the attractiveness of the region, and Armani is not the first company closing or reducing its subsidiaries. Sources: La Repubblica, 26/02/2016 Sources link: http://www.repubblica.it/economia/finanza/2016/02/26/news/armani_svizzer... Offshoring detailsOffshoring date: 1996Offshoring location: SwitzerlandOffshored business function: FinancialOffshoring governance mode: In house (in own facilities)Offshoring entry mode: Wholly ownedNumber of jobs lost: 100Reason for offshoring: TaxationHost country geographical area: Western Europe