By and  on October 28, 2009

MILAN — After only three months in the job, Gian Giacomo Ferraris, chief executive officer of Versace SpA, has launched an extensive reorganization plan aimed at returning the company to profitability in 2011.

After forecasting an 18.8 percent drop in 2009 sales to 273 million euros, or $405.6 million, and an operating loss of 30 million euros, or $44.6 million, Versace will cut 350 jobs, which is about 25 percent of its workforce.

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