Versace will be cutting 350 jobs in Italy by June.
The cuts are part of CEO Gian Giacomo Ferraris's plan to stop bleeding money.
Ferraris also plans to close down Versace's three-year-old accessories
factory in Milan (though about 37 of those employees will be relocated
to Versace's separate ready-to-wear plant).
They don`t expect to break even until 2011.
Its sad on whats going on.
Versace is opening a hotel-residence in Dubai, which should be completed this year.
Beginning March 1, you can buy the above shirt to support Versace here!
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