Type
Internal restructuring
Country
World
Region
Location of affected unit(s)
Sector
Manufacturing
Manufacture Of Material For Textiles, Apparel, Leather And Related Products
Manufacture Of Wearing Apparel
14 - Manufacture of wearing apparel

350 jobs
Number of planned job losses
Job loss
Announcement Date
27 October 2009
Employment effect (start)
Foreseen end date
31 December 2011

Description

Fashion group Versace is to cut 350 jobs due to reduced sales in the last months. The plan envisages a reduction of overhead costs with the aim for returning the group to profitability in 2011. Versace group has 1,360 employees worldwide.


Sources

  • 28 October 2009: L'Unit√†

Citation

Eurofound (2009), Versace, Internal restructuring in World, factsheet number 69759, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/69759.