Versace Agrees on Job Cuts

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