A unique support system for worker buyouts

The Marcora Law, established in Italy in 1985, provides financial support for worker buyouts ‒ the acquisition of companies in crisis by their employees, who then form worker cooperatives. From 1986 to 2024, the law financed 320 worker buyouts, investing €173 million (USD 180 million) and impacting over 10,000 jobs. The law’s success stems from three key factors: its operational model, involving financial intermediaries like CFI (Cooperazione Finanza Impresa) to support cooperatives; progressive regulatory evolution strengthening worker buyouts; and the cooperative movement’s active role in providing support beyond the legal framework. CFI, a cooperative itself, plays a crucial role in assessing projects, providing financial resources and offering ongoing support to the worker cooperatives. This model has proven effective, with a high success rate for worker buyouts, even in challenging economic periods. The case of Greslab, a successful worker buyout, exemplifies the positive impact of the Marcora Law and CFI’s support work.