Versace Agrees on Job Cuts

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Gian Giacomo Ferraris, chief executive officer of Gianni Versace SpA, poses in this undated handout photograph released to the media on Friday, Jan. 29, 2010. Gianni Versace SpA has signed a preliminary agreement with unions on job cuts in Italy and introduced a lower-priced women’s wear collection as part of a plan to return to profitability in 2011. Source: Gianni Versace SpA via Bloomberg EDITOR’S NOTE: NO SALES. EDITORIAL USE ONLY