MILAN — The New York Stock Exchange has allowed high-end Italian design furniture firm Natuzzi to remain listed on its composite index, after accepting its plan to regain compliance with its listing standards. It also came to an agreement on Tuesday with trade unions over reducing its staff in order to fortify its business.
In a statement on Friday, the Bari-based firm said it received notice from the NYSE in January, stating that its 30 trading-day average market capitalization and its last reported stockholders’ equity as of Sept. 30, 2025, were each below $50 million, and therefore no longer in compliance with NYSE’s listing standards. On April 6, the firm submitted its compliance plan. Natuzzi is listed on the New York Stock Exchange under the ticker NTZ.
Trade Union Woes
In a key move, Natuzzi gained clarity on its future after reaching an agreement with Italian trade unions over its crucial 2026-28 industrial plan. Italy’s Labor Ministry said the plan would boost productivity and efficiency in the face of a drastic decline in purchases and in the markets where Natuzzi is most active. The plan also involves a 50 million euro investment. On the downside, it would have resulted in the loss of more than 400 jobs occupied by individuals the firm said were close to retirement.
Under the agreed terms, Natuzzi will take advantage of a government-backed wage supplement fund that partially pays the workers’ wages while they work reduced hours, while the company navigates a challenging period. Natuzzi will access a usage rate of 62 percent on average for up to 1,755 employees, until the end of 2026. The agreement was made at the nation’s Labor Ministry, which was presided by representatives from the Ministry of Enterprises and Made in Italy, the Regions of Apulia and Basilicata.
All parties agreed to continue negotiating a voluntary severance package — meaning some employees may be offered money to leave by choice, for which Natuzzi said it already has funds set aside.
Pasquale Natuzzi Sr.
Pasquale Natuzzi
NYSE Compliance Still Pending
Going forward, the company is subject to periodic review by the NYSE for compliance with the initiatives set forth in the plan. Natuzzi has to be in compliance with the listing standards by July 6, 2027 or if it does not make progress consistent with the plan, NYSE may initiate delisting proceedings, the statement said. “The company intends to regain compliance with the NYSE’s continued listing standards by such date; however, there is no assurance that the company will be able to do so,” it said.
Natuzzi, which has most recently worked with designers like Karim Rashid and Fabio Novembre, employs about 1,800 people. In 2025, the firm saw its revenues fall 3.3 percent to 308.2 million euros and its gross profit fell 18 percent to 23.4 million euros. In the fourth quarter of 2025, its operating loss widened to 13.6 million euros, compared to 2.7 million euros in the fourth quarter of 2024.
Performance was partially impacted by the “unexpected U.S. trade tariffs imposed on EU” and relocating production of its Natuzzi editions line from China to Italy, the company said.
Natuzzi’s founder and chairman Pasquale Natuzzi Sr. started the firm in 1959. Today, it distributes its collections worldwide through a retail network of 564 monobrand stores and 487 Natuzzi galleries.
In November 2024, Natuzzi unveiled a new residence on Dubai’s artificial archipelago Dubai Islands, created with its own vision, to house its upscale couches and beds.
At the time, the firm said it would become the first Italian design brand to create its own residential project.
Natuzzi’s next meeting with the unions is scheduled for May 27.
