The oil crises in the 1970s (1973 and 1979) had a significant impact on the knitwear industry, with rising production costs, a fall in domestic demand and losses of profits. As a result, many industrialists opted for significant reductions in their workforces in order to reduce costs. All of this led to major job losses. The protests and demonstrations by the textile worker collective failed to put an end to the layoffs and the closure of many companies within the sector.