VERSACE Lays Off 350 Employees…
Fashion enthusiasts mourn today.
Not only has Versace announced the closing of all their Japan stores, but now in a feeble attempt to increase profits and keep investors happy, Versace will be eliminating 350 positions worldwide.
(Pause for reaction, fashionistas)
According to the CEO, Gian Giacono Ferraris, “Trading conditions in the wake of the global financial crisis have been severe and the company expects to make a loss in 2009. No organization can allow a situation like this to continue, especially considering the flat outlook for 2010.”
Just a thought; perhaps Versace should be available in Walmart. I bet profits will increase then.
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October 30th, 2009 at 7:31 am
Gotta love them